Ceredex Value Advisors LLC Has $17.24 Million Holdings in RB Global, Inc. (NYSE:RBA)

Ceredex Value Advisors LLC cut its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 22.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 257,700 shares of the business services provider’s stock after selling 74,550 shares during the quarter. Ceredex Value Advisors LLC owned 0.14% of RB Global worth $17,238,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in RB Global during the 3rd quarter worth about $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of RB Global during the 3rd quarter valued at about $26,000. Cornerstone Planning Group LLC acquired a new stake in shares of RB Global during the 2nd quarter valued at about $45,000. Belpointe Asset Management LLC lifted its holdings in shares of RB Global by 134.7% during the 1st quarter. Belpointe Asset Management LLC now owns 913 shares of the business services provider’s stock valued at $51,000 after buying an additional 524 shares during the last quarter. Finally, WASHINGTON TRUST Co acquired a new stake in shares of RB Global during the 3rd quarter valued at about $56,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Darren Jeffrey Watt sold 1,100 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the sale, the insider now owns 21,103 shares in the company, valued at $1,625,986.15. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other RB Global news, CRO James J. Jeter sold 11,416 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $76.32, for a total value of $871,269.12. Following the completion of the sale, the executive now directly owns 30,915 shares in the company, valued at $2,359,432.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Darren Jeffrey Watt sold 1,100 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total value of $84,755.00. Following the completion of the sale, the insider now owns 21,103 shares of the company’s stock, valued at $1,625,986.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,816 shares of company stock valued at $1,133,055. 4.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com upgraded RB Global from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Royal Bank of Canada lifted their price target on RB Global from $75.00 to $93.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Scotiabank raised their price objective on RB Global from $76.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Monday, February 26th. Finally, Raymond James raised their price objective on RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.80.

RB Global Stock Performance

Shares of NYSE RBA opened at $74.69 on Monday. The company has a quick ratio of 1.23, a current ratio of 1.35 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $72.52 and its two-hundred day moving average is $67.13. The company has a market cap of $13.65 billion, a P/E ratio of 87.87, a P/E/G ratio of 5.68 and a beta of 0.87. RB Global, Inc. has a 12 month low of $51.07 and a 12 month high of $77.99.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Friday, February 23rd. The business services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.68 by $0.14. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.04 billion. RB Global had a return on equity of 4.19% and a net margin of 5.61%. The company’s revenue for the quarter was up 134.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 EPS. On average, equities analysts expect that RB Global, Inc. will post 1.88 EPS for the current year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Thursday, February 8th. RB Global’s dividend payout ratio is currently 127.06%.

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; and Veritread, an online marketplace for heavy haul transport solution.