Norges Bank Invests $209.93 Million in RB Global, Inc. (NYSE:RBA)

Norges Bank purchased a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,328,125 shares of the business services provider’s stock, valued at approximately $209,931,000. Norges Bank owned about 1.26% of RB Global at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new stake in RB Global during the fourth quarter valued at approximately $27,000. Versant Capital Management Inc increased its position 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 valued at $28,000 after purchasing an additional 176 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after buying an additional 129 shares during the period. Whipplewood Advisors LLC bought a new stake in RB Global in the fourth quarter worth $37,000. Finally, Geneos Wealth Management Inc. purchased a new position in RB Global during the fourth quarter worth $40,000. Institutional investors own 95.37% of the company’s stock.

RB Global Trading Down 2.4 %

RBA opened at $97.90 on Monday. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90. The company has a market capitalization of $18.09 billion, a P/E ratio of 48.70, a PEG ratio of 4.95 and a beta of 0.94. The stock’s fifty day moving average is $96.38 and its two-hundred day moving average is $91.48. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data 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 net margin of 9.64% and a return on equity of 8.00%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. Analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.18%. RB Global’s dividend payout ratio is presently 57.71%.

Insider Activity at RB Global

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the sale, the chief executive officer now owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 7,597 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.85, for a total value of $743,366.45. Following the completion of the transaction, the executive now directly owns 20,267 shares of the company’s stock, valued at approximately $1,983,125.95. The trade was a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,897 shares of company stock valued at $2,338,161 over the last ninety days. 4.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RBA. StockNews.com lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Royal Bank of Canada boosted their target price on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. BMO Capital Markets increased their price target on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. CIBC dropped their price objective on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. Finally, Raymond James increased their target price on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, RB Global presently has an average rating of “Moderate Buy” and an average target price of $107.64.

RB Global 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.