RB Global, Inc. (NYSE:RBA) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,967,159 shares of the business services provider’s stock after purchasing an additional 264,778 shares during the quarter. Geode Capital Management LLC’s holdings in RB Global were worth $357,434,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Natixis Advisors LLC grew its position in shares of RB Global by 69.5% during the 4th quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider’s stock valued at $1,703,000 after buying an additional 7,737 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of RB Global during the 4th quarter worth approximately $27,000. Diversified Trust Co lifted its holdings in shares of RB Global by 48.9% in the 4th quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock worth $5,694,000 after purchasing an additional 20,724 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in RB Global by 53.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock valued at $4,805,000 after purchasing an additional 20,795 shares during the period. Finally, Mawer Investment Management Ltd. grew its stake in RB Global by 15.7% during the 4th quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider’s stock worth $10,876,000 after buying an additional 16,397 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Insider Activity

In related news, CRO James J. Jeter sold 7,597 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.85, for a total transaction of $743,366.45. Following the completion of the sale, the executive now directly owns 20,267 shares of the company’s stock, valued at $1,983,125.95. This represents a 27.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now owns 107,569 shares in the company, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,897 shares of company stock worth $2,338,161. Corporate insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RBA shares. Royal Bank of Canada boosted their price target on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Raymond James boosted their target price 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. BMO Capital Markets raised their price target on shares of RB Global from $116.00 to $120.00 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 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, March 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $107.64.

RB Global Price Performance

NYSE RBA opened at $91.91 on Friday. RB Global, Inc. has a 12 month low of $69.83 and a 12 month high of $106.90. The firm has a market capitalization of $16.98 billion, a PE ratio of 45.73, a P/E/G ratio of 4.95 and a beta of 0.94. The company’s 50 day simple moving average is $97.22 and its 200 day simple moving average is $91.85. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17.

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 (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.23). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same quarter last year, the business posted $0.82 earnings per share. As a group, equities research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

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

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.