RB Global, Inc. (NYSE:RBA) Announces Quarterly Dividend of $0.29

RB Global, Inc. (NYSE:RBA) (TSE:RBA) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Wednesday, November 27th will be given a dividend of 0.29 per share by the business services provider on Wednesday, December 18th. This represents a $1.16 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Wednesday, November 27th.

RB Global has increased its dividend by an average of 8.7% annually over the last three years and has raised its dividend every year for the last 20 years. RB Global has a dividend payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect RB Global to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 46.4%.

RB Global Stock Performance

RB Global stock opened at $97.81 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. RB Global has a fifty-two week low of $60.84 and a fifty-two week high of $97.83. The stock has a fifty day moving average of $85.55 and a two-hundred day moving average of $81.29. The company has a market capitalization of $18.04 billion, a price-to-earnings ratio of 53.16, a PEG ratio of 4.70 and a beta of 0.92.

Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the completion of the sale, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,261,134.93. This represents a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RBA. Bank of America boosted their target price on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. BMO Capital Markets upped their price objective on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Robert W. Baird raised their target price on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Raymond James boosted their price target on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada raised their price objective on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.36.

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.