Citigroup Inc. Acquires 26,129 Shares of RB Global, Inc. $RBA

Citigroup Inc. grew its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 40.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 90,281 shares of the business services provider’s stock after buying an additional 26,129 shares during the quarter. Citigroup Inc.’s holdings in RB Global were worth $9,781,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RBA. Spire Wealth Management raised its holdings in shares of RB Global by 1,090.6% during the third quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 349 shares in the last quarter. State of Wyoming purchased a new position in RB Global during the 2nd quarter valued at $46,000. SouthState Corp raised its holdings in RB Global by 75.6% in the 2nd quarter. SouthState Corp now owns 453 shares of the business services provider’s stock worth $48,000 after purchasing an additional 195 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after purchasing an additional 97 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of RB Global by 53.1% in the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after purchasing an additional 204 shares during the period. 95.37% of the stock is currently owned by institutional investors.

RB Global Stock Performance

RB Global stock opened at $100.98 on Friday. RB Global, Inc. has a twelve month low of $87.87 and a twelve month high of $119.58. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $18.77 billion, a P/E ratio of 49.50, a PEG ratio of 1.53 and a beta of 0.54. The stock’s 50 day moving average is $108.82 and its 200 day moving average is $107.19.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.99 by $0.12. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The company 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. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, February 9th. RB Global’s dividend payout ratio is 60.78%.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 20,742 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer owned 107,569 shares in the company, valued at $12,370,435. This represents a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Weiss Ratings upgraded shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Raymond James Financial upped their target price on 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 lowered their target price on RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Royal Bank Of Canada lifted their price target on RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Finally, BMO Capital Markets upped their price target on RB Global from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $129.29.

About RB Global

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.