Vanguard Group Inc. Boosts Stock Position in RB Global, Inc. (NYSE:RBA)

Vanguard Group Inc. raised its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,916,629 shares of the business services provider’s stock after buying an additional 358,752 shares during the quarter. Vanguard Group Inc. owned about 0.13% of RB Global worth $2,248,060,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vontobel Holding Ltd. lifted its position 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 acquiring an additional 753,700 shares during the last quarter. State Street Corp increased its position in shares of 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 worth $406,087,000 after purchasing an additional 103,080 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of RB Global by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider’s stock valued at $297,400,000 after purchasing an additional 108,188 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of RB Global by 0.7% in the 3rd quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider’s stock worth $272,293,000 after purchasing an additional 24,101 shares in the last quarter. Finally, Boston Partners grew its stake in RB Global by 6.9% during the 4th quarter. Boston Partners now owns 3,308,977 shares of the business services provider’s stock worth $298,500,000 after buying an additional 214,181 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

RB Global Price Performance

NYSE:RBA opened at $100.26 on Thursday. The firm’s fifty day moving average is $96.00 and its two-hundred day moving average is $91.22. The firm has a market cap of $18.52 billion, a price-to-earnings ratio of 49.88, a PEG ratio of 4.95 and a beta of 0.94. 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, Inc. has a one year low of $69.83 and a one year high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the business earned $0.82 earnings per share. Research analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

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

Insider Activity at RB Global

In other news, CRO James J. Jeter sold 7,597 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the sale, the executive now directly owns 20,267 shares in the company, valued at $1,983,125.95. This trade represents a 27.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 107,569 shares of the company’s stock, valued at $10,521,323.89. The trade was a 12.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,897 shares of company stock worth $2,338,161. 4.32% of the stock is owned by company insiders.

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.