Insider Selling: RB Global (NYSE:RBA) CEO Sells 20,742 Shares of Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) CEO James Francis Kessler sold 20,742 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the transaction, the chief executive officer directly owned 107,569 shares in the company, valued at $12,370,435. This represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

RB Global Price Performance

Shares of NYSE RBA traded up $1.03 during mid-day trading on Thursday, reaching $116.53. The company had a trading volume of 1,847,157 shares, compared to its average volume of 1,496,097. The firm has a market cap of $21.66 billion, a price-to-earnings ratio of 55.76, a PEG ratio of 2.15 and a beta of 0.57. The business’s 50-day simple moving average is $103.88 and its 200 day simple moving average is $107.19. RB Global, Inc. has a one year low of $86.68 and a one year high of $119.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.23.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Thursday, November 6th. The business services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.83 by $0.10. RB Global had a net margin of 9.65% and a return on equity of 9.66%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company earned $0.71 EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, research analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 9th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, February 9th. RB Global’s dividend payout ratio (DPR) is presently 59.33%.

Analyst Upgrades and Downgrades

RBA has been the topic of a number of research reports. National Bankshares decreased their target price on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 9th. National Bank Financial raised RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price for the company in a report on Monday, November 24th. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Royal Bank Of Canada upped their price objective on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Finally, Bank of America dropped their price objective on shares of RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a report on Friday, November 7th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, RB Global has an average rating of “Moderate Buy” and an average price target of $124.13.

Institutional Investors Weigh In On RB Global

Several large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in shares of RB Global by 94.3% in the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock valued at $1,031,000 after acquiring an additional 5,090 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of RB Global by 53.1% during the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after purchasing an additional 204 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of RB Global by 857.9% in the 1st quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock valued at $375,000 after buying an additional 3,346 shares during the period. Goldman Sachs Group Inc. increased its position in RB Global by 35.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock valued at $33,940,000 after buying an additional 88,813 shares in the last quarter. Finally, Woodline Partners LP bought a new position in RB Global in the first quarter worth approximately $4,103,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.