RB Global, Inc. (NYSE:RBA) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 208,662 shares of the business services provider’s stock after selling 9,217 shares during the quarter. Corebridge Financial Inc.’s holdings in RB Global were worth $18,823,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Central Pacific Bank Trust Division acquired a new stake in RB Global during the fourth quarter worth about $27,000. Versant Capital Management Inc grew its stake in shares of RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after purchasing an additional 176 shares during the period. Jones Financial Companies Lllp grew its stake in shares of RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after purchasing an additional 129 shares during the period. Whipplewood Advisors LLC purchased a new position in shares of RB Global during the 4th quarter valued at approximately $37,000. Finally, Geneos Wealth Management Inc. purchased a new stake in RB Global during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Stock Performance

Shares of NYSE:RBA opened at $100.12 on Tuesday. 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, Inc. has a 1 year low of $69.83 and a 1 year high of $106.90. The firm has a market capitalization of $18.49 billion, a PE ratio of 49.81, a P/E/G ratio of 4.95 and a beta of 0.94. The business’s 50 day moving average price is $95.57 and its 200-day moving average price is $91.03.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (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 analysts’ expectations of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period in the previous year, the company earned $0.82 EPS. As a group, equities research analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Friday, February 14th. RB Global’s dividend payout ratio (DPR) is 57.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. CIBC cut their price objective on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. BMO Capital Markets lifted their price target on 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 increased their price target on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Royal Bank of Canada boosted their price objective on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. One investment 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.64.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the transaction, the chief executive officer now owns 107,569 shares in the company, valued at $10,521,323.89. The trade was a 12.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO James J. Jeter sold 600 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $98.63, for a total transaction of $59,178.00. Following the sale, the executive now owns 19,667 shares of the company’s stock, valued at approximately $1,939,756.21. The trade was a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,897 shares of company stock worth $2,338,161 in the last ninety days. Insiders own 4.32% of the company’s stock.

RB Global 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.