Insider Buying: RB Global (NYSE:RBA) Director Buys $39,496.00 in Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) Director Deborah Stein acquired 400 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was purchased at an average cost of $98.74 per share, for a total transaction of $39,496.00. Following the purchase, the director directly owned 1,400 shares in the company, valued at approximately $138,236. This represents a 40.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link.

RB Global Price Performance

Shares of RB Global stock opened at $94.98 on Friday. RB Global, Inc. has a 52 week low of $87.87 and a 52 week high of $119.58. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a market cap of $17.66 billion, a PE ratio of 46.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.57. The company’s 50-day moving average price is $107.37 and its two-hundred day moving average price is $105.62.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.12. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. As a group, sell-side analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 9th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, February 9th. RB Global’s dividend payout ratio (DPR) is presently 60.78%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Caprock Group LLC acquired a new position in shares of RB Global in the 3rd quarter valued at about $1,724,000. Cibc World Market Inc. lifted its position in RB Global by 60.7% in the 3rd quarter. Cibc World Market Inc. now owns 179,707 shares of the business services provider’s stock worth $19,461,000 after buying an additional 67,860 shares in the last quarter. Fiera Capital Corp lifted its position in RB Global by 4.9% in the 3rd quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider’s stock worth $440,353,000 after buying an additional 190,408 shares in the last quarter. JCIC Asset Management Inc. acquired a new stake in shares of RB Global during the 3rd quarter valued at $3,621,000. Finally, Cidel Asset Management Inc. grew its holdings in shares of RB Global by 2.7% during the 3rd quarter. Cidel Asset Management Inc. now owns 708,463 shares of the business services provider’s stock valued at $76,753,000 after acquiring an additional 18,863 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RBA shares. BMO Capital Markets raised their price objective on RB Global from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Raymond James Financial boosted their price objective on RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. National Bank Financial raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective for the company in a research note on Monday, November 24th. Weiss Ratings upgraded shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Finally, Royal Bank Of Canada lifted their target price on shares of RB Global from $137.00 to $146.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $129.29.

About RB Global

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.