Prudential Financial Inc. Has $1.50 Million Holdings in RB Global, Inc. (NYSE:RBA)

Prudential Financial Inc. trimmed its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,618 shares of the business services provider’s stock after selling 1,591 shares during the quarter. Prudential Financial Inc.’s holdings in RB Global were worth $1,499,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of RB Global by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock valued at $2,248,060,000 after acquiring an additional 358,752 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in RB Global by 9.8% during the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after purchasing an additional 753,700 shares in the last quarter. State Street Corp boosted its holdings in RB Global by 2.1% during the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock valued at $406,087,000 after purchasing an additional 103,080 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of RB Global by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider’s stock worth $297,400,000 after buying an additional 108,188 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of RB Global by 6.9% during the fourth quarter. Boston Partners now owns 3,308,977 shares of the business services provider’s stock valued at $298,500,000 after acquiring an additional 214,181 shares during the period. Institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

Shares of NYSE:RBA opened at $91.91 on Friday. The firm’s fifty day moving average is $97.22 and its 200-day moving average is $91.91. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90. The firm has a market cap of $16.99 billion, a PE ratio of 45.73, a price-to-earnings-growth ratio of 4.95 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the company posted $0.82 earnings per share. Sell-side analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.26%. RB Global’s dividend payout ratio (DPR) is presently 57.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RBA shares. StockNews.com cut shares of RB Global from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Raymond James increased their price target on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Robert W. Baird boosted their price objective on RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Royal Bank of Canada upped their target price on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, CIBC lowered their price objective on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.64.

Insider Buying and Selling

In related 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 value of $1,535,617.00. Following the completion of the sale, the chief executive officer now directly owns 107,569 shares of the company’s stock, 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 the SEC website. Also, CRO James J. Jeter sold 600 shares of the company’s 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. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,897 shares of company stock worth $2,338,161 in the last ninety days. Corporate insiders own 4.32% of the company’s stock.

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.