RB Global, Inc. (NYSE:RBA) Shares Sold by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP decreased its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,981 shares of the business services provider’s stock after selling 1,204 shares during the quarter. Occudo Quantitative Strategies LP’s holdings in RB Global were worth $1,171,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Millennium Management LLC grew its holdings in RB Global by 93.3% during the 4th quarter. Millennium Management LLC now owns 499,592 shares of the business services provider’s stock valued at $45,068,000 after purchasing an additional 241,141 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in RB Global by 15.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,354 shares of the business services provider’s stock valued at $2,829,000 after buying an additional 4,126 shares during the last quarter. MJP Associates Inc. ADV grew its stake in shares of RB Global by 9.0% during the fourth quarter. MJP Associates Inc. ADV now owns 4,344 shares of the business services provider’s stock valued at $392,000 after acquiring an additional 357 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of RB Global by 0.6% during the fourth quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider’s stock worth $307,033,000 after acquiring an additional 19,895 shares during the last quarter. Finally, Focus Partners Wealth acquired a new position in shares of RB Global in the fourth quarter worth about $253,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Stock Performance

Shares of RBA opened at $104.76 on Wednesday. The stock has a market capitalization of $19.40 billion, a PE ratio of 52.12, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78. RB Global, Inc. has a 12-month low of $70.27 and a 12-month high of $107.99. The business’s fifty day moving average price is $98.52 and its 200 day moving average price is $95.13. 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 posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. The business had revenue of $1.06 billion during 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%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 EPS. Equities research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, May 29th. RB Global’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RBA shares. BMO Capital Markets lifted their price objective on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird lifted their price target on shares of RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. CIBC upped their price target on shares of RB Global from $116.00 to $118.00 and gave the company an “outperformer” rating in a report on Friday, May 9th. StockNews.com raised shares of RB Global from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Finally, Raymond James upped their target price on shares of RB Global from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.50.

Insider Transactions at RB Global

In related news, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the sale, the chief executive officer now owns 107,569 shares of the company’s stock, valued at $10,521,323.89. This trade represents a 12.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO James J. Jeter sold 7,597 shares of RB Global stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.85, for a total transaction of $743,366.45. Following the completion of the sale, the executive now owns 20,267 shares in the company, valued at approximately $1,983,125.95. This represents a 27.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,397 shares of company stock worth $2,703,491. 4.32% of the stock is currently owned by company insiders.

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.