Shell Asset Management Co. Sells 2,000 Shares of RB Global, Inc. (NYSE:RBA)

Shell Asset Management Co. lessened its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 22.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,876 shares of the business services provider’s stock after selling 2,000 shares during the period. Shell Asset Management Co.’s holdings in RB Global were worth $620,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in RB Global by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock worth $2,248,060,000 after purchasing an additional 358,752 shares during the last quarter. Vontobel Holding Ltd. raised its position in 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 worth $762,378,000 after purchasing an additional 753,700 shares during the last quarter. Geode Capital Management LLC raised its position in RB Global by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider’s stock worth $357,434,000 after purchasing an additional 264,778 shares during the last quarter. Janus Henderson Group PLC raised its position in RB Global by 0.6% in the 4th quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider’s stock worth $307,033,000 after purchasing an additional 19,895 shares during the last quarter. Finally, Boston Partners raised its position in RB Global by 6.9% in the 4th quarter. Boston Partners now owns 3,308,977 shares of the business services provider’s stock worth $298,500,000 after purchasing an additional 214,181 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

RBA has been the subject of several recent research reports. BMO Capital Markets upped their target price on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Robert W. Baird upped their target price on shares of RB Global from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. StockNews.com upgraded shares of RB Global from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Royal Bank of Canada upped their target price on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, National Bankshares dropped their target price on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.50.

RB Global Price Performance

RBA opened at $108.24 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a 12 month low of $70.27 and a 12 month high of $108.80. The company has a fifty day simple moving average of $98.94 and a 200 day simple moving average of $95.63. The stock has a market cap of $20.04 billion, a P/E ratio of 53.85, a P/E/G ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the company earned $0.90 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. On average, research analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global’s dividend payout ratio is currently 57.14%.

Insider Activity at RB Global

In related news, CRO James J. Jeter sold 2,000 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $106.96, for a total value of $213,920.00. Following the completion of the transaction, the executive now directly owns 14,167 shares of the company’s stock, valued at approximately $1,515,302.32. This represents a 12.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Francis Kessler sold 15,700 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. The trade was a 12.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,472 shares of company stock worth $3,867,745 in the last quarter. Corporate 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.