Insider Selling: RB Global, Inc. (NYSE:RBA) CRO Sells $743,366.45 in Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) CRO James J. Jeter sold 7,597 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.85, for a total value of $743,366.45. Following the transaction, the executive now owns 20,267 shares in the company, valued at $1,983,125.95. This trade represents a 27.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

RB Global Price Performance

Shares of RBA opened at $99.14 on Friday. The firm has a market capitalization of $18.32 billion, a price-to-earnings ratio of 49.33, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. RB Global, Inc. has a one year low of $69.83 and a one year high of $106.90. The stock’s fifty day moving average is $95.35 and its 200-day moving average is $90.82.

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

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given 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 1.17%. RB Global’s dividend payout ratio (DPR) is 57.71%.

Institutional Investors Weigh In On RB Global

A number of institutional investors have recently bought and sold shares of the business. Central Pacific Bank Trust Division acquired a new stake in shares of RB Global during the 4th quarter valued at about $27,000. Diversified Trust Co raised its stake in shares of RB Global by 48.9% in the 4th quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock valued at $5,694,000 after acquiring an additional 20,724 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of RB Global by 53.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock valued at $4,805,000 after acquiring an additional 20,795 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of RB Global by 163.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 400 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its stake in shares of RB Global by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after acquiring an additional 753,700 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on RBA. CIBC cut their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. Robert W. Baird raised their target price on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a research note on Tuesday. Raymond James raised their target price on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, BMO Capital Markets raised their target price on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, RB Global has an average rating of “Moderate Buy” and an average price target of $107.64.

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.