RB Global, Inc. $RBA Shares Sold by Diversified Trust Co.

Diversified Trust Co. reduced its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 35.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,104 shares of the business services provider’s stock after selling 15,786 shares during the period. Diversified Trust Co.’s holdings in RB Global were worth $2,994,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC lifted its stake in RB Global by 94.3% during the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock worth $1,031,000 after acquiring an additional 5,090 shares in the last quarter. NewEdge Advisors LLC increased its stake in RB Global by 53.1% during the first 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. Jones Financial Companies Lllp increased its stake in RB Global by 857.9% during the first quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock worth $375,000 after purchasing an additional 3,346 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of RB Global by 35.6% during the first quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock worth $33,940,000 after purchasing an additional 88,813 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of RB Global during the first quarter worth about $4,103,000. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Stock Performance

Shares of RB Global stock opened at $96.43 on Wednesday. The business has a 50-day simple moving average of $106.80 and a 200-day simple moving average of $105.29. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.10. RB Global, Inc. has a one year low of $87.87 and a one year high of $119.58. The company has a market cap of $17.93 billion, a PE ratio of 47.27, a P/E/G ratio of 1.48 and a beta of 0.57.

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

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Monday, February 9th were given a $0.31 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. RB Global’s dividend payout ratio is currently 60.78%.

Insiders Place Their Bets

In other news, Director Deborah Stein acquired 400 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was acquired at an average cost of $98.74 per share, with a total value of $39,496.00. Following the transaction, the director owned 1,400 shares in the company, valued at approximately $138,236. This trade represents a 40.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 20,742 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer owned 107,569 shares of the company’s stock, valued at approximately $12,370,435. The trade was a 16.17% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RBA has been the subject of a number of research reports. Raymond James Financial lifted their price objective on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Royal Bank Of Canada raised their price target on shares of RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. BMO Capital Markets boosted their price target on shares of RB Global from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings raised RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target 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.