RB Global, Inc. (NYSE:RBA) CEO James Francis Kessler Sells 17,883 Shares

RB Global, Inc. (NYSE:RBA) (TSE:RBA) CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the transaction, the chief executive officer now owns 86,247 shares in the company, valued at $7,261,134.93. The sale was disclosed in a document filed with the SEC, which is available at this link.

James Francis Kessler also recently made the following trade(s):

• On Monday, September 9th, James Francis Kessler sold 17,883 shares of RB Global stock. The stock was sold at an average price of $83.09, for a total transaction of $1,485,898.47.

RB Global Trading Down 0.7 %

NYSE RBA traded down $0.63 during trading on Tuesday, hitting $83.74. The stock had a trading volume of 323,092 shares, compared to its average volume of 1,044,078. The stock has a 50 day simple moving average of $81.94 and a 200 day simple moving average of $77.77. RB Global, Inc. has a one year low of $58.85 and a one year high of $87.45. 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 stock has a market capitalization of $15.31 billion, a price-to-earnings ratio of 50.83, a P/E/G ratio of 5.43 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The business’s revenue was down .9% compared to the same quarter last year. During the same period last year, the business posted $0.42 EPS. Sell-side analysts predict that RB Global, Inc. will post 1.96 earnings per share for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Wednesday, August 28th. This is a boost from RB Global’s previous quarterly dividend of $0.27. RB Global’s payout ratio is 69.88%.

Analyst Ratings Changes

Several equities analysts recently commented on RBA shares. Bank of America boosted their target price on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Raymond James increased their target price on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. CIBC started coverage on shares of RB Global in a research note on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price objective for the company. 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 note on Wednesday, August 7th. Finally, BMO Capital Markets started coverage on RB Global in a research report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.19.

Hedge Funds Weigh In On RB Global

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position 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 buying an additional 1,153,497 shares during the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of RB Global by 1.4% in the first quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider’s stock valued at $652,590,000 after buying an additional 114,225 shares in the last quarter. Vontobel Asset Management Inc. raised its holdings in shares of RB Global by 66.5% in the 4th quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock valued at $467,920,000 after buying an additional 2,655,388 shares during the period. Cooke & Bieler LP grew its position in RB Global by 3.4% in the 2nd quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider’s stock valued at $252,865,000 after acquiring an additional 109,056 shares in the last quarter. Finally, Fiera Capital Corp increased its stake in RB Global by 5.7% during the second quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock worth $239,881,000 after purchasing an additional 168,945 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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.