RB Global, Inc. (NYSE:RBA) Director Adam Dewitt Sells 800 Shares

RB Global, Inc. (NYSE:RBA) (TSE:RBA) Director Adam Dewitt sold 800 shares of the company’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $84,936.00. Following the completion of the sale, the director now owns 5,865 shares of the company’s stock, valued at approximately $622,687.05. This trade represents a 12.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

RB Global Trading Up 1.0%

Shares of RB Global stock opened at $107.50 on Thursday. The company has a 50-day moving average of $101.79 and a two-hundred day moving average of $97.41. RB Global, Inc. has a 12-month low of $70.38 and a 12-month high of $109.25. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The stock has a market cap of $19.91 billion, a PE ratio of 53.48, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.89. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. RB Global’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 earnings per share. On average, research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be paid a $0.29 dividend. The ex-dividend date is Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.08%. RB Global’s payout ratio is 57.14%.

Institutional Trading of RB Global

Several institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio purchased a new position in RB Global during the first quarter worth $1,849,000. Geneos Wealth Management Inc. boosted its stake in shares of RB Global by 21.9% during the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 97 shares during the last quarter. Intech Investment Management LLC increased its position in RB Global by 77.0% during the 1st quarter. Intech Investment Management LLC now owns 77,800 shares of the business services provider’s stock worth $7,807,000 after purchasing an additional 33,845 shares in the last quarter. Jane Street Group LLC raised its stake in RB Global by 1,469.4% in the 1st quarter. Jane Street Group LLC now owns 365,071 shares of the business services provider’s stock valued at $36,617,000 after purchasing an additional 341,809 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in RB Global by 2.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 451,101 shares of the business services provider’s stock valued at $45,245,000 after purchasing an additional 12,000 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on RBA shares. BMO Capital Markets lifted their price objective on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Raymond James boosted their price target on RB Global from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. National Bankshares reduced their price objective on RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Robert W. Baird lifted their target price on RB Global from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Finally, Royal Bank of Canada boosted their target price on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, RB Global currently has an average rating of “Moderate Buy” and a consensus price target of $114.50.

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.