RB Global, Inc. (NYSE:RBA) Insider Darren Jeffrey Watt Sells 3,700 Shares

RB Global, Inc. (NYSE:RBA) (TSE:RBA) insider Darren Jeffrey Watt sold 3,700 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total value of $392,829.00. Following the completion of the transaction, the insider now owns 24,874 shares of the company’s stock, valued at $2,640,872.58. The trade was a 12.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

RB Global Trading Up 1.0%

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

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. RB Global’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 EPS. Equities analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

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

Hedge Funds Weigh In On RB Global

Large investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its stake in RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 97 shares during the period. Securian Asset Management Inc. lifted its holdings in shares of RB Global by 0.7% during the first quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider’s stock worth $1,408,000 after buying an additional 100 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of RB Global by 10.9% in the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 104 shares during the period. Wealth Alliance LLC grew its stake in shares of RB Global by 2.7% in the first quarter. Wealth Alliance LLC now owns 3,976 shares of the business services provider’s stock valued at $399,000 after acquiring an additional 104 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in RB Global by 0.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider’s stock worth $3,674,000 after acquiring an additional 113 shares during the period. Institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on RBA. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. CIBC increased their price objective on RB Global from $116.00 to $118.00 and gave the company an “outperformer” rating in a report on Friday, May 9th. Raymond James boosted their target price on shares of RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. National Bank Financial lowered shares of RB Global from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 25th. Finally, Robert W. Baird increased their price target on shares of RB Global from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $114.50.

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.