RB Global (NYSE:RBA) Trading 5.2% Higher – Here’s What Happened

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) traded up 5.2% during mid-day trading on Monday . The company traded as high as $85.44 and last traded at $85.36. 271,156 shares traded hands during trading, a decline of 74% from the average session volume of 1,032,908 shares. The stock had previously closed at $81.11.

Analyst Ratings Changes

A number of research analysts recently commented on RBA shares. Robert W. Baird boosted their price objective on shares of RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Raymond James boosted their price objective on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Bank of America boosted their price objective on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Royal Bank of Canada boosted their price objective 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. Finally, BMO Capital Markets started coverage on shares of RB Global in a research report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 target price for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $92.19.

RB Global Price Performance

The stock’s 50 day moving average price is $82.71 and its two-hundred day moving average price is $78.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20. The firm has a market capitalization of $15.86 billion, a price-to-earnings ratio of 51.97, a PEG ratio of 5.28 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. On average, equities research analysts anticipate that RB Global, Inc. will post 1.92 EPS for the current year.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were paid a dividend of $0.29 per share. This is a boost from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Wednesday, August 28th. RB Global’s dividend payout ratio is presently 69.88%.

Insider Activity at RB Global

In related news, CRO James J. Jeter sold 3,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total transaction of $256,650.00. Following the completion of the transaction, the executive now directly owns 20,267 shares in the company, valued at $1,733,841.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CRO James J. Jeter sold 3,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total value of $256,650.00. Following the completion of the transaction, the executive now owns 20,267 shares in the company, valued at approximately $1,733,841.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 2,920 shares of the 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 transaction, the executive now owns 23,267 shares of the company’s stock, valued at approximately $1,837,162.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,601 shares of company stock worth $3,720,043 in the last ninety days. 4.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RB Global

A number of hedge funds have recently made changes to their positions in the business. Arlington Partners LLC raised its stake in shares of RB Global by 22.3% in the 3rd quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock valued at $3,958,000 after buying an additional 8,961 shares in the last quarter. Blue Trust Inc. raised its stake in shares of RB Global by 11.9% in the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock valued at $113,000 after buying an additional 157 shares in the last quarter. Trust Point Inc. raised its stake in shares of RB Global by 2.2% in the 3rd quarter. Trust Point Inc. now owns 29,136 shares of the business services provider’s stock valued at $2,345,000 after buying an additional 615 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of RB Global in the 3rd quarter worth about $210,000. Finally, Creative Planning grew its holdings in shares of RB Global by 27.6% in the 3rd quarter. Creative Planning now owns 19,811 shares of the business services provider’s stock worth $1,595,000 after purchasing an additional 4,285 shares during the last quarter. 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.