RB Global, Inc. (NYSE:RBA) Announces Quarterly Dividend of $0.29

RB Global, Inc. (NYSE:RBA) (TSE:RBA) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Wednesday, November 27th will be paid a dividend of 0.29 per share by the business services provider on Wednesday, December 18th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Wednesday, November 27th.

RB Global has increased its dividend by an average of 8.7% per year over the last three years and has raised its dividend every year for the last 20 years. RB Global has a payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Analysts expect RB Global to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 46.4%.

RB Global Price Performance

RBA opened at $98.49 on Tuesday. The company has a market capitalization of $18.16 billion, a P/E ratio of 53.53, a PEG ratio of 4.70 and a beta of 0.92. The company has a 50-day moving average of $85.55 and a 200-day moving average of $81.29. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. RB Global has a 1-year low of $60.84 and a 1-year high of $99.79.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the completion of the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at approximately $7,261,134.93. The trade was a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RBA. Royal Bank of Canada upped their price objective on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. BMO Capital Markets upped their price target on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Raymond James raised their price objective on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Bank of America boosted their target price on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. Finally, Robert W. Baird raised their price target on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $98.36.

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.