Geode Capital Management LLC Grows Stock Position in RB Global, Inc. (NYSE:RBA)

Geode Capital Management LLC raised its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,967,159 shares of the business services provider’s stock after buying an additional 264,778 shares during the quarter. Geode Capital Management LLC owned approximately 2.15% of RB Global worth $357,434,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new stake in RB Global in the fourth quarter valued at approximately $27,000. Versant Capital Management Inc boosted its holdings in shares of RB Global by 136.4% in 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 grew its stake in shares of 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. Proficio Capital Partners LLC acquired a new stake in shares of RB Global during the 4th quarter worth $36,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of RB Global in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RBA. Raymond James boosted their price target on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com cut RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. BMO Capital Markets raised their price target on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. CIBC decreased their price objective on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. Finally, Robert W. Baird raised their target price on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.64.

Insider Activity at RB Global

In other news, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 107,569 shares in the company, valued at approximately $10,521,323.89. This represents a 12.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 600 shares of RB Global stock in a transaction on Friday, March 21st. The stock was sold at an average price of $98.63, for a total transaction of $59,178.00. Following the completion of the sale, the executive now owns 19,667 shares of the company’s stock, valued at approximately $1,939,756.21. This trade represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,897 shares of company stock valued at $2,338,161. Insiders own 4.32% of the company’s stock.

RB Global Stock Down 6.3 %

Shares of NYSE:RBA opened at $91.91 on Friday. The company has a market capitalization of $16.98 billion, a price-to-earnings ratio of 45.73, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94. The company has a 50 day moving average of $97.22 and a two-hundred day moving average of $91.85. RB Global, Inc. has a 52-week low of $69.83 and a 52-week high of $106.90. 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 results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period in the previous year, the business posted $0.82 earnings per share. As a group, analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The firm also recently declared 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 dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, February 14th. RB Global’s dividend payout ratio (DPR) is 57.71%.

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.