Envestnet Portfolio Solutions Inc. Has $945,000 Holdings in RB Global, Inc. (NYSE:RBA)

Envestnet Portfolio Solutions Inc. lessened its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 10.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,471 shares of the business services provider’s stock after selling 1,268 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in RB Global were worth $945,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in RB Global during the fourth quarter worth $266,148,000. Vontobel Holding Ltd. boosted its holdings in RB Global by 9.8% during the fourth 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. National Bank of Canada FI boosted its holdings in RB Global by 309.6% during the third quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock worth $65,014,000 after purchasing an additional 610,843 shares during the last quarter. FMR LLC boosted its holdings in RB Global by 60.5% during the third quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock worth $95,057,000 after purchasing an additional 445,004 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in RB Global by 17.1% during the third quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock worth $196,109,000 after purchasing an additional 354,803 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Price Performance

Shares of RBA opened at $99.14 on Monday. The firm has a market capitalization of $18.32 billion, a PE ratio of 49.33, a PEG ratio of 4.95 and a beta of 0.94. The company’s 50-day moving average is $95.35 and its 200-day moving average is $90.91. RB Global, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. 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 issued its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.23). The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period in the previous year, the company earned $0.82 earnings per share. Equities analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Friday, February 14th. RB Global’s payout ratio is presently 57.71%.

Insider Activity

In related news, CEO James Francis Kessler sold 15,700 shares of the company’s 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 transaction, the chief executive officer now directly owns 107,569 shares in the company, valued at approximately $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO James J. Jeter sold 7,597 shares of the company’s 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 transaction, the executive now owns 20,267 shares in the company, valued at $1,983,125.95. This trade represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

RBA has been the subject of several recent research reports. Robert W. Baird increased their target price on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Royal Bank of Canada increased their target price on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. CIBC dropped their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets upped their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Raymond James upped their price target on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $107.64.

RB Global 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.