RB Global, Inc. (NYSE:RBA) Director Buys $98,280.00 in Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) Director Timothy J. O’day purchased 1,500 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were acquired at an average price of $65.52 per share, with a total value of $98,280.00. Following the purchase, the director now directly owns 1,500 shares in the company, valued at approximately $98,280. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

RB Global Price Performance

NYSE RBA opened at $65.12 on Friday. The firm’s 50-day simple moving average is $61.33 and its two-hundred day simple moving average is $58.18. RB Global, Inc. has a 52 week low of $48.72 and a 52 week high of $66.99. The company has a market cap of $11.86 billion, a PE ratio of 70.78, a price-to-earnings-growth ratio of 14.12 and a beta of 0.93. The company has a quick ratio of 1.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.63.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.17). RB Global had a net margin of 5.94% and a return on equity of 4.77%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.03 billion. Research analysts predict that RB Global, Inc. will post 0.65 earnings per share for the current year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Tuesday, August 22nd. RB Global’s dividend payout ratio is presently 117.39%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RBA. National Bank Financial boosted their price target on shares of RB Global from $61.00 to $70.00 in a research note on Monday, July 10th. National Bankshares raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $61.00 price target on the stock in a report on Thursday, May 18th. Raymond James raised shares of RB Global from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $60.00 to $75.00 in a report on Thursday, July 20th. StockNews.com downgraded shares of RB Global from a “hold” rating to a “sell” rating in a report on Monday. Finally, Royal Bank of Canada boosted their price target on shares of RB Global from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.25.

Institutional Investors Weigh In On RB Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Independent Franchise Partners LLP increased its position in shares of RB Global by 8.3% in the second quarter. Independent Franchise Partners LLP now owns 16,078,138 shares of the business services provider’s stock worth $964,688,000 after purchasing an additional 1,227,053 shares during the last quarter. Beutel Goodman & Co Ltd. increased its position in shares of RB Global by 20.4% in the second quarter. Beutel Goodman & Co Ltd. now owns 6,924,820 shares of the business services provider’s stock worth $416,038,000 after purchasing an additional 1,172,169 shares during the last quarter. BlackRock Inc. increased its position in shares of RB Global by 286.9% in the second quarter. BlackRock Inc. now owns 6,479,856 shares of the business services provider’s stock worth $388,791,000 after purchasing an additional 4,804,923 shares during the last quarter. Invesco Ltd. increased its position in shares of RB Global by 19.2% in the first quarter. Invesco Ltd. now owns 4,652,139 shares of the business services provider’s stock worth $274,617,000 after purchasing an additional 747,804 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its position in shares of RB Global by 3.4% in the second quarter. ArrowMark Colorado Holdings LLC now owns 4,498,326 shares of the business services provider’s stock worth $269,900,000 after purchasing an additional 148,206 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors.

RB Global Company Profile

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; Xcira that provides live simulcast auction technologies; and Veritread, an online marketplace for heavy haul transport solution.