RB Global, Inc. $RBA Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,011,657 shares of the business services provider’s stock after selling 8,595 shares during the period. JPMorgan Chase & Co. owned 0.54% of RB Global worth $109,623,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. MJP Associates Inc. ADV increased its holdings in shares of RB Global by 2.2% in the 2nd quarter. MJP Associates Inc. ADV now owns 4,434 shares of the business services provider’s stock valued at $471,000 after acquiring an additional 95 shares during the period. Geneos Wealth Management Inc. grew its position in RB Global by 21.9% during 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 during the last quarter. Archer Investment Corp increased its stake in RB Global by 6.0% in the second quarter. Archer Investment Corp now owns 1,760 shares of the business services provider’s stock valued at $187,000 after purchasing an additional 100 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of RB Global by 12.9% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 938 shares of the business services provider’s stock valued at $102,000 after buying an additional 107 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of RB Global by 1.1% in the second quarter. California State Teachers Retirement System now owns 11,693 shares of the business services provider’s stock valued at $1,242,000 after buying an additional 124 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RBA. Bank of America lowered their price target on RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. 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. National Bank Financial upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective on the stock in a research report on Monday, November 24th. Finally, Royal Bank Of Canada boosted their price objective on shares of RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a research note on Wednesday. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $129.29.

RB Global Trading Down 0.3%

NYSE:RBA opened at $103.39 on Monday. RB Global, Inc. has a 1 year low of $87.87 and a 1 year high of $119.58. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.10. The stock has a fifty day moving average price of $109.27 and a two-hundred day moving average price of $107.68. The stock has a market capitalization of $19.22 billion, a price-to-earnings ratio of 50.68, a PEG ratio of 1.57 and a beta of 0.54.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the company posted $0.95 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 9th will be paid 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 1.2%. RB Global’s payout ratio is 60.78%.

Insider Buying and Selling at RB Global

In related news, CEO James Francis Kessler sold 20,742 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total value of $2,385,330.00. Following the completion of the transaction, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at $12,370,435. This trade represents a 16.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.28% of the stock is currently owned by corporate insiders.

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.