Truist Financial Corp Sells 8,627 Shares of RB Global, Inc. $RBA

Truist Financial Corp decreased its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 37.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,585 shares of the business services provider’s stock after selling 8,627 shares during the period. Truist Financial Corp’s holdings in RB Global were worth $1,580,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cidel Asset Management Inc. increased its position in RB Global by 1.8% in the 2nd quarter. Cidel Asset Management Inc. now owns 689,600 shares of the business services provider’s stock valued at $73,115,000 after acquiring an additional 11,881 shares during the period. JCIC Asset Management Inc. bought a new stake in shares of RB Global in the third quarter worth $3,621,000. Montrusco Bolton Investments Inc. acquired a new stake in RB Global in the second quarter valued at $19,717,000. Massachusetts Financial Services Co. MA raised its position in RB Global by 7.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock worth $1,162,370,000 after purchasing an additional 705,423 shares during the last quarter. Finally, Triasima Portfolio Management inc. lifted its holdings in RB Global by 47.1% during the 3rd quarter. Triasima Portfolio Management inc. now owns 111,450 shares of the business services provider’s stock worth $12,074,000 after buying an additional 35,701 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RBA. Weiss Ratings restated a “hold (c+)” rating on shares of RB Global in a research report on Thursday, January 22nd. Raymond James Financial raised their price target on shares of RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Bank of America reduced their price objective on shares of RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. National Bank Financial raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price for the company in a research note on Monday, November 24th. Finally, Royal Bank Of Canada boosted their target price on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.13.

Insider Buying and Selling at RB Global

In other RB Global news, Director Deborah Stein acquired 1,000 shares of RB Global stock in a transaction dated Thursday, November 13th. The stock was purchased at an average cost of $101.26 per share, for a total transaction 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. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Francis Kessler sold 20,742 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the sale, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at approximately $12,370,435. The trade was a 16.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.28% of the company’s stock.

RB Global Trading Up 2.5%

RBA opened at $117.84 on Monday. The company has a fifty day moving average price of $107.82 and a two-hundred day moving average price of $107.78. RB Global, Inc. has a 1-year low of $87.87 and a 1-year high of $119.58. The company has a market cap of $21.90 billion, a P/E ratio of 56.38, a price-to-earnings-growth ratio of 2.21 and a beta of 0.54. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.93 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The business’s revenue was up 12.0% on a year-over-year basis. Analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 9th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, February 9th. RB Global’s dividend payout ratio (DPR) is currently 59.33%.

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.