American Century Companies Inc. Increases Stock Position in RB Global, Inc. (NYSE:RBA)

American Century Companies Inc. boosted its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 9.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,079 shares of the business services provider’s stock after acquiring an additional 4,303 shares during the quarter. American Century Companies Inc.’s holdings in RB Global were worth $4,339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Cerity Partners LLC lifted its position in RB Global by 89.7% during the third quarter. Cerity Partners LLC now owns 8,844 shares of the business services provider’s stock valued at $712,000 after purchasing an additional 4,182 shares during the period. Benjamin Edwards Inc. raised its position in RB Global by 40.9% in the third quarter. Benjamin Edwards Inc. now owns 13,309 shares of the business services provider’s stock worth $1,071,000 after acquiring an additional 3,865 shares during the period. Centiva Capital LP purchased a new position in shares of RB Global during the 3rd quarter worth $379,000. Quarry LP grew its position in shares of RB Global by 138.0% during the 3rd quarter. Quarry LP now owns 1,652 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 958 shares during the period. Finally, Quantinno Capital Management LP lifted its position in RB Global by 8.5% during the third quarter. Quantinno Capital Management LP now owns 27,973 shares of the business services provider’s stock valued at $2,252,000 after purchasing an additional 2,180 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Trading Down 6.3 %

Shares of RB Global stock opened at $91.91 on Friday. RB Global, Inc. has a twelve month low of $69.83 and a twelve month high of $106.90. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $97.22 and a 200-day moving average price of $91.91. The firm has a market cap of $16.99 billion, a price-to-earnings ratio of 45.73, a PEG ratio of 4.95 and a beta of 0.90.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the business earned $0.82 EPS. Equities research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.26%. RB Global’s payout ratio is currently 57.71%.

Analysts Set New Price Targets

A number of analysts have commented on the company. BMO Capital Markets upped their price target on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Raymond James increased their price objective on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Robert W. Baird lifted their target price on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada upped their target price on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.64.

Insider Activity at RB Global

In other news, CRO James J. Jeter sold 600 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $98.63, for a total value of $59,178.00. Following the sale, the executive now directly owns 19,667 shares in the company, valued at approximately $1,939,756.21. This represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the sale, the chief executive officer now owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,897 shares of company stock valued at $2,338,161. Insiders own 4.32% of the company’s stock.

RB Global 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.