James J. Jeter Sells 2,920 Shares of RB Global, Inc. (NYSE:RBA) Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) CRO James J. Jeter sold 2,920 shares of RB Global stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the sale, the executive now directly owns 23,267 shares in the company, valued at approximately $1,837,162.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

RB Global Price Performance

Shares of RBA stock traded up $1.31 during trading hours on Wednesday, reaching $80.03. The company had a trading volume of 417,809 shares, compared to its average volume of 1,124,204. RB Global, Inc. has a 12-month low of $55.67 and a 12-month high of $81.87. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29. The company has a market capitalization of $14.63 billion, a price-to-earnings ratio of 47.90, a PEG ratio of 5.40 and a beta of 0.91. The stock has a fifty day moving average of $78.12 and a 200-day moving average of $74.85.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities analysts anticipate that RB Global, Inc. will post 2.04 earnings per share for the current year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, August 28th. This is an increase from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 1.45%. RB Global’s payout ratio is 69.88%.

Institutional Trading of RB Global

Several hedge funds have recently made changes to their positions in RBA. Vanguard Group Inc. lifted its holdings in RB Global by 5.1% in the first 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. EdgePoint Investment Group Inc. lifted its stake in shares of RB Global by 1.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider’s stock valued at $652,590,000 after purchasing an additional 114,225 shares during the last quarter. Vontobel Asset Management Inc. grew its holdings in shares of RB Global by 66.5% during the 4th quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock worth $467,920,000 after purchasing an additional 2,655,388 shares during the period. Cooke & Bieler LP increased its position in shares of RB Global by 3.6% during the 4th quarter. Cooke & Bieler LP now owns 3,627,957 shares of the business services provider’s stock worth $242,674,000 after purchasing an additional 124,815 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in RB Global by 5.7% in the 2nd quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock valued at $239,881,000 after buying an additional 168,945 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on RBA. Royal Bank of Canada lifted their target price on shares of RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Raymond James lifted their price objective on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. CIBC started coverage on RB Global in a report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 target price for the company. Scotiabank lifted their price target on RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 24th. Finally, Robert W. Baird increased their price objective on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, RB Global has a consensus rating of “Moderate Buy” and an average target price of $88.43.

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.