MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 47,755 Shares of RB Global, Inc. (NYSE:RBA)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 68.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,808 shares of the business services provider’s stock after selling 47,755 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in RB Global were worth $1,663,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of RB Global by 3.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 704,778 shares of the business services provider’s stock worth $53,683,000 after purchasing an additional 26,548 shares during the period. Diversified Trust Co increased its holdings in shares of RB Global by 86.2% during the 1st quarter. Diversified Trust Co now owns 45,168 shares of the business services provider’s stock worth $3,440,000 after purchasing an additional 20,910 shares during the period. WoodTrust Financial Corp increased its holdings in shares of RB Global by 1.5% during the 1st quarter. WoodTrust Financial Corp now owns 32,904 shares of the business services provider’s stock worth $2,506,000 after purchasing an additional 499 shares during the period. Armstrong Henry H Associates Inc. bought a new position in shares of RB Global during the 1st quarter worth about $591,000. Finally, Running Oak Capital LLC increased its holdings in shares of RB Global by 9.3% during the 1st quarter. Running Oak Capital LLC now owns 147,531 shares of the business services provider’s stock worth $11,237,000 after purchasing an additional 12,534 shares during the period. Institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

NYSE:RBA opened at $76.43 on Wednesday. The firm has a market cap of $13.97 billion, a PE ratio of 46.04, a price-to-earnings-growth ratio of 5.22 and a beta of 0.91. RB Global, Inc. has a 12 month low of $55.54 and a 12 month high of $81.74. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average price is $75.41 and its two-hundred day moving average price is $72.00.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.15. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 8.08% and a return on equity of 6.87%. On average, equities analysts anticipate that RB Global, Inc. will post 2.04 EPS for the current fiscal year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, May 29th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, May 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.41%. RB Global’s payout ratio is 65.06%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. CIBC assumed coverage on shares of RB Global in a report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price objective on the stock. Bank of America lifted their target price on shares of RB Global from $68.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Finally, Scotiabank lifted their target price on shares of RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.14.

Insider Transactions at RB Global

In other news, insider Baron Concors sold 13,230 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $75.05, for a total transaction of $992,911.50. Following the transaction, the insider now directly owns 15,487 shares in the company, valued at $1,162,299.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CRO James J. Jeter sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $76.14, for a total transaction of $380,700.00. Following the completion of the sale, the executive now directly owns 23,267 shares of the company’s stock, valued at $1,771,549.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Baron Concors sold 13,230 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $75.05, for a total transaction of $992,911.50. Following the sale, the insider now directly owns 15,487 shares of the company’s stock, valued at $1,162,299.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,867 shares of company stock worth $3,370,272. Corporate insiders own 4.10% of the company’s stock.

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.