RB Global, Inc. (NYSE:RBA) Insider Baron Concors Sells 6,800 Shares of Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) insider Baron Concors sold 6,800 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $65.11, for a total transaction of $442,748.00. Following the transaction, the insider now directly owns 15,658 shares in the company, valued at approximately $1,019,492.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

RB Global Stock Up 0.6 %

RBA stock opened at $65.12 on Friday. The company’s 50 day moving average price is $61.33 and its 200 day moving average price is $58.18. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.19 and a current ratio of 1.32. RB Global, Inc. has a fifty-two week low of $48.72 and a fifty-two week high of $66.99. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of 70.78, a PEG ratio of 14.12 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, August 3rd. The business services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.17). RB Global had a return on equity of 4.77% and a net margin of 5.94%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.03 billion. On average, equities research analysts anticipate that RB Global, Inc. will post 0.65 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Wednesday, August 23rd were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Tuesday, August 22nd. RB Global’s dividend payout ratio (DPR) is 117.39%.

Hedge Funds Weigh In On RB Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC grew its position in RB Global by 6.4% during the 1st quarter. HighTower Advisors LLC now owns 21,697 shares of the business services provider’s stock worth $1,275,000 after purchasing an additional 1,306 shares during the last quarter. Citigroup Inc. lifted its stake in shares of RB Global by 26.0% in the first quarter. Citigroup Inc. now owns 34,995 shares of the business services provider’s stock valued at $2,069,000 after purchasing an additional 7,218 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of RB Global by 11.1% in the first quarter. PNC Financial Services Group Inc. now owns 19,188 shares of the business services provider’s stock valued at $1,131,000 after purchasing an additional 1,914 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of RB Global by 1.6% in the first quarter. Great West Life Assurance Co. Can now owns 100,957 shares of the business services provider’s stock valued at $6,322,000 after purchasing an additional 1,548 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of RB Global by 14.9% in the first quarter. Dimensional Fund Advisors LP now owns 284,874 shares of the business services provider’s stock valued at $16,816,000 after purchasing an additional 37,047 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RBA shares. Raymond James raised shares of RB Global from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $60.00 to $75.00 in a research report on Thursday, July 20th. 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 research report on Thursday, May 18th. National Bank Financial boosted their price objective on shares of RB Global from $61.00 to $70.00 in a report on Monday, July 10th. StockNews.com lowered 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 objective on shares of RB Global from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, RB Global presently has a consensus rating of “Moderate Buy” and an average target price of $66.25.

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.