James Francis Kessler Sells 15,700 Shares of RB Global, Inc. (NYSE:RBA) Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 107,569 shares in the company, valued at $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

RB Global Stock Down 0.5 %

RBA stock opened at $98.78 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The company’s 50 day simple moving average is $95.14 and its 200-day simple moving average is $90.73. RB Global, Inc. has a 12 month low of $69.83 and a 12 month high of $106.90. The firm has a market capitalization of $18.25 billion, a PE ratio of 49.15, a P/E/G ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results 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). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the business posted $0.82 EPS. Equities analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RBA shares. BMO Capital Markets boosted their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Raymond James raised their price objective on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. CIBC lowered their target price 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. Royal Bank of Canada lifted their price target 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, StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, RB Global has a consensus rating of “Moderate Buy” and a consensus target price of $107.64.

Institutional Investors Weigh In On RB Global

Several hedge funds have recently modified their holdings of the company. CoreCap Advisors LLC lifted its stake in shares of RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after buying an additional 117 shares during the period. Central Pacific Bank Trust Division acquired a new position in RB Global in the 4th quarter valued at $27,000. Versant Capital Management Inc lifted its stake in shares of RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after purchasing an additional 176 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after purchasing an additional 129 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of RB Global in the fourth quarter valued at $36,000. 95.37% of the stock is owned by institutional investors and hedge funds.

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.