Wellington Management Group LLP Reduces Stock Position in RB Global, Inc. (NYSE:RBA)

Wellington Management Group LLP cut its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,834,933 shares of the business services provider’s stock after selling 83,064 shares during the quarter. Wellington Management Group LLP’s holdings in RB Global were worth $165,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of RBA. Raymond James Financial Inc. bought a new stake in shares of RB Global in the 4th quarter worth approximately $266,148,000. Norges Bank purchased a new stake in RB Global in the fourth quarter worth $209,931,000. Vontobel Holding Ltd. boosted its holdings in RB Global by 9.8% in the fourth 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. National Bank of Canada FI increased its position in RB Global by 309.6% during the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock valued at $65,014,000 after purchasing an additional 610,843 shares during the period. Finally, FMR LLC raised its holdings in RB Global by 60.5% in the 3rd quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock worth $95,057,000 after purchasing an additional 445,004 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

RBA has been the topic of several research analyst reports. StockNews.com cut shares of RB Global from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Raymond James upped their target price on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. 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. CIBC reduced their price target 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. Finally, Robert W. Baird raised their price objective on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.64.

RB Global Trading Up 0.6 %

RB Global stock opened at $100.95 on Thursday. RB Global, Inc. has a 12 month low of $69.83 and a 12 month high of $106.90. 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 business’s fifty day simple moving average is $97.02 and its two-hundred day simple moving average is $91.76. The company has a market capitalization of $18.65 billion, a price-to-earnings ratio of 50.22, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.23). The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations 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 company posted $0.82 earnings per share. As a group, equities analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.15%. RB Global’s payout ratio is currently 57.71%.

Insider Buying and Selling

In other news, CRO James J. Jeter sold 600 shares of RB Global stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $98.63, for a total value of $59,178.00. Following the completion of the sale, the executive now directly owns 19,667 shares in the company, valued at $1,939,756.21. The trade was a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were 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 approximately $10,521,323.89. This trade represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,897 shares of company stock worth $2,338,161 in the last three months. Insiders own 4.32% of the company’s stock.

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.