Royce & Associates LP Sells 23,820 Shares of RB Global, Inc. $RBA

Royce & Associates LP cut its stake in shares of RB Global, Inc. (NYSE:RBAFree Report) (TSE:RBA) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 420,705 shares of the business services provider’s stock after selling 23,820 shares during the period. Royce & Associates LP’s holdings in RB Global were worth $43,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Covestor Ltd increased its position in shares of RB Global by 11.6% during the fourth quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock valued at $96,000 after buying an additional 97 shares during the period. Geneos Wealth Management Inc. increased its position in shares of RB Global by 21.9% during the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after buying an additional 97 shares during the period. Coldstream Capital Management Inc. increased its position in shares of RB Global by 5.4% during the third quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock valued at $221,000 after buying an additional 105 shares during the period. Central Pacific Bank Trust Division increased its position in shares of RB Global by 41.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock valued at $37,000 after buying an additional 107 shares during the period. Finally, Sigma Planning Corp increased its position in shares of RB Global by 1.4% in the fourth quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider’s stock worth $866,000 after purchasing an additional 114 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other RB Global news, Director Deborah Stein purchased 425 shares of RB Global stock in a transaction on Tuesday, May 19th. The shares were acquired at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the transaction, the director directly owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. The trade was a 30.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by insiders.

RB Global Stock Up 0.1%

RBA stock opened at $104.79 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $101.43 and its 200 day moving average is $103.74. The stock has a market cap of $19.48 billion, a price-to-earnings ratio of 48.74, a price-to-earnings-growth ratio of 1.67 and a beta of 0.57. RB Global, Inc. has a 1-year low of $93.58 and a 1-year high of $119.58.

RB Global (NYSE:RBAGet Free Report) (TSE:RBA) last posted its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.04. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. RB Global’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 earnings per share. Sell-side analysts predict that RB Global, Inc. will post 4.09 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, May 27th. RB Global’s dividend payout ratio (DPR) is presently 57.67%.

Analysts Set New Price Targets

Several research firms recently weighed in on RBA. BMO Capital Markets restated an “outperform” rating and issued a $135.00 price objective (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Stephens restated an “equal weight” rating and issued a $96.00 price objective on shares of RB Global in a research report on Tuesday, May 5th. Royal Bank Of Canada upped their price objective on shares of RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings upgraded shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.43.

Get Our Latest Stock Report on RBA

RB Global Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for RB Global (NYSE:RBA)

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