James Francis Kessler Sells 17,883 Shares of RB Global, Inc. (NYSE:RBA) Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the completion of the transaction, the chief executive officer now owns 86,247 shares of the company’s stock, valued at $7,166,263.23. The sale was disclosed in a filing with the SEC, which is available at this link.

James Francis Kessler also recently made the following trade(s):

• On Tuesday, June 18th, James Francis Kessler sold 8,000 shares of RB Global stock. The shares were sold at an average price of $80.91, for a total transaction of $647,280.00.

RB Global Trading Up 0.7 %

NYSE RBA opened at $84.63 on Thursday. RB Global, Inc. has a 12 month low of $58.85 and a 12 month high of $87.45. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The stock’s fifty day moving average price is $80.71 and its 200-day moving average price is $77.24. The stock has a market cap of $15.47 billion, a P/E ratio of 51.01, a P/E/G ratio of 5.28 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. RB Global’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. As a group, equities analysts forecast that RB Global, Inc. will post 1.96 EPS for the current fiscal year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be issued a $0.29 dividend. This is a positive change from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Wednesday, August 28th. RB Global’s payout ratio is presently 69.88%.

Hedge Funds Weigh In On RB Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vontobel Asset Management Inc. lifted its holdings in shares of RB Global by 66.5% during the fourth quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock valued at $467,920,000 after purchasing an additional 2,655,388 shares in the last quarter. Norges Bank bought a new position in RB Global during the 4th quarter valued at about $141,970,000. Vanguard Group Inc. boosted its holdings in shares of RB Global by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock valued at $1,827,528,000 after acquiring an additional 1,153,497 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of RB Global by 142.9% in the second quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock worth $102,154,000 after acquiring an additional 787,042 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of RB Global by 1,879.0% during the second quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock valued at $47,761,000 after purchasing an additional 594,941 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on RBA. Raymond James raised their price objective on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. BMO Capital Markets assumed coverage on RB Global in a research report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price target on the stock. Bank of America upped their price target on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research note on Monday, August 26th. CIBC assumed coverage on RB Global in a research report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price objective for the company. Finally, Royal Bank of Canada upped their target price on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.19.

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.