James J. Jeter Sells 600 Shares of RB Global, Inc. (NYSE:RBA) Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) CRO James J. Jeter sold 600 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $98.63, for a total value of $59,178.00. Following the transaction, the executive now owns 19,667 shares of the company’s stock, valued at approximately $1,939,756.21. This represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

RB Global Stock Performance

Shares of RBA stock opened at $100.23 on Wednesday. RB Global, Inc. has a 12 month low of $69.83 and a 12 month high of $106.90. The company has a market cap of $18.52 billion, a P/E ratio of 49.87, a PEG ratio of 4.95 and a beta of 0.94. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average price of $95.79 and a 200 day moving average price of $91.15.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results 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). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period in the prior year, the business earned $0.82 earnings per share. Sell-side 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 announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 1.16%. RB Global’s payout ratio is currently 57.71%.

Institutional Investors Weigh In On RB Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Natixis Advisors LLC acquired a new position in RB Global during the third quarter worth $897,000. Commerce Bank raised its stake in shares of RB Global by 10.6% during the 3rd quarter. Commerce Bank now owns 14,906 shares of the business services provider’s stock worth $1,200,000 after buying an additional 1,426 shares during the last quarter. Intech Investment Management LLC grew its stake in RB Global by 16.8% in the 3rd quarter. Intech Investment Management LLC now owns 21,413 shares of the business services provider’s stock valued at $1,725,000 after acquiring an additional 3,081 shares during the last quarter. Citigroup Inc. increased its holdings in RB Global by 7.7% during the 3rd quarter. Citigroup Inc. now owns 51,792 shares of the business services provider’s stock valued at $4,173,000 after acquiring an additional 3,682 shares in the last quarter. Finally, Cerity Partners LLC raised its position in RB Global by 89.7% during the third quarter. Cerity Partners LLC now owns 8,844 shares of the business services provider’s stock worth $712,000 after acquiring an additional 4,182 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RBA shares. BMO Capital Markets lifted their target price on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. CIBC cut their target price on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada raised their price target on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Raymond James upped their price objective on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, StockNews.com lowered RB Global from a “buy” rating to a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $107.64.

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.