Principal Financial Group Inc. Sells 7,896 Shares of RB Global, Inc. $RBA

Principal Financial Group Inc. cut its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 412,122 shares of the business services provider’s stock after selling 7,896 shares during the quarter. Principal Financial Group Inc. owned about 0.22% of RB Global worth $44,658,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of RBA. Hussman Strategic Advisors Inc. purchased a new position in shares of RB Global during the third quarter valued at about $1,138,000. Vanguard Personalized Indexing Management LLC boosted its position in RB Global by 11.9% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 24,321 shares of the business services provider’s stock valued at $2,635,000 after acquiring an additional 2,582 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in RB Global by 40.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 6,741 shares of the business services provider’s stock valued at $730,000 after acquiring an additional 1,941 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of RB Global by 5.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 3,837 shares of the business services provider’s stock worth $416,000 after acquiring an additional 215 shares during the period. Finally, Strs Ohio lifted its stake in shares of RB Global by 153.3% in the 3rd quarter. Strs Ohio now owns 64,923 shares of the business services provider’s stock valued at $7,034,000 after purchasing an additional 39,292 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Raymond James Financial upped their price target on RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. National Bank Financial raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price on the stock in a research report on Monday, November 24th. Bank of America decreased their price target on shares of RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research note on Friday, November 7th. National Bankshares dropped their price objective on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RB Global in a research note on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.13.

Insider Activity

In other RB Global news, CEO James Francis Kessler sold 20,742 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the transaction, the chief executive officer owned 107,569 shares in the company, valued at approximately $12,370,435. This represents a 16.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Deborah Stein acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were bought at an average cost of $101.26 per share, with a total value of $101,260.00. Following the completion of the acquisition, the director directly owned 1,000 shares of the company’s stock, valued at $101,260. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 4.32% of the stock is currently owned by company insiders.

RB Global Trading Up 1.2%

Shares of NYSE RBA opened at $116.00 on Thursday. The firm’s 50 day moving average price is $107.09 and its 200-day moving average price is $107.66. RB Global, Inc. has a 52-week low of $87.87 and a 52-week high of $119.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.23. The company has a market cap of $21.56 billion, a PE ratio of 55.50, a P/E/G ratio of 2.15 and a beta of 0.54.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.10. RB Global had a net margin of 9.65% and a return on equity of 9.66%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the business earned $0.71 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities research analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 9th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. RB Global’s dividend payout ratio (DPR) is 59.33%.

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.