James Francis Kessler Sells 8,000 Shares of RB Global, Inc. (NYSE:RBA) Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) CEO James Francis Kessler sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $80.91, for a total transaction of $647,280.00. Following the transaction, the chief executive officer now directly owns 78,104 shares of the company’s stock, valued at $6,319,394.64. The sale was disclosed in a document filed with the SEC, which is available through this link.

RB Global Stock Down 0.5 %

RBA stock opened at $80.03 on Wednesday. The stock has a market capitalization of $14.63 billion, a P/E ratio of 48.21, a PEG ratio of 5.50 and a beta of 0.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.17 and a current ratio of 1.29. RB Global, Inc. has a one year low of $55.09 and a one year high of $81.74. The company has a 50 day moving average price of $74.53 and a two-hundred day moving average price of $71.04.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.15. RB Global had a net margin of 8.08% and a return on equity of 6.87%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. As a group, sell-side analysts expect that RB Global, Inc. will post 2.04 EPS for the current year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, May 29th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, May 29th. This represents a $1.08 annualized dividend and a dividend yield of 1.35%. RB Global’s payout ratio is 65.06%.

Analyst Upgrades and Downgrades

RBA has been the subject of a number of recent research reports. Royal Bank of Canada raised their price objective on shares of RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. CIBC assumed coverage on shares of RB Global in a research note on Tuesday. They set a “sector outperform” rating and a $95.00 price objective for the company. Raymond James lifted their target price on shares of RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. Scotiabank lifted their target price on shares of RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 24th. Finally, Bank of America lifted their target price on shares of RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.14.

Hedge Funds Weigh In On RB Global

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mariner LLC lifted its holdings in RB Global by 3.6% in the 3rd quarter. Mariner LLC now owns 27,567 shares of the business services provider’s stock worth $1,723,000 after buying an additional 946 shares in the last quarter. Triasima Portfolio Management inc. raised its stake in shares of RB Global by 1,152.4% in the 4th quarter. Triasima Portfolio Management inc. now owns 193,118 shares of the business services provider’s stock valued at $12,947,000 after purchasing an additional 177,698 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of RB Global in the 4th quarter valued at about $2,009,000. Charles Schwab Investment Management Inc. raised its stake in shares of RB Global by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,030,810 shares of the business services provider’s stock valued at $68,951,000 after purchasing an additional 24,684 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in shares of RB Global by 3.9% in the 4th quarter. TD Asset Management Inc now owns 603,261 shares of the business services provider’s stock valued at $40,567,000 after purchasing an additional 22,636 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.