Shell Asset Management Co. Sells 9,300 Shares of RB Global, Inc. (NYSE:RBA)

Shell Asset Management Co. trimmed its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 42.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 12,576 shares of the business services provider’s stock after selling 9,300 shares during the quarter. Shell Asset Management Co.’s holdings in RB Global were worth $959,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RBA. Triasima Portfolio Management inc. grew its stake in shares of RB Global by 1,152.4% in the fourth quarter. Triasima Portfolio Management inc. now owns 193,118 shares of the business services provider’s stock worth $12,947,000 after acquiring an additional 177,698 shares during the period. Brevan Howard Capital Management LP bought a new stake in shares of RB Global during the 4th quarter valued at $2,009,000. Intech Investment Management LLC purchased a new stake in RB Global in the 1st quarter worth $613,000. Charles Schwab Investment Management Inc. boosted its stake in shares of RB Global by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,030,810 shares of the business services provider’s stock worth $68,951,000 after acquiring an additional 24,684 shares during the period. Finally, TD Asset Management Inc lifted its holdings in RB Global by 3.9% in the 4th quarter. TD Asset Management Inc now owns 603,261 shares of the business services provider’s stock worth $40,567,000 after purchasing an additional 22,636 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

RB Global Trading Up 0.8 %

RBA opened at $79.17 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.58. The firm has a market cap of $14.48 billion, a price-to-earnings ratio of 47.69, a PEG ratio of 5.37 and a beta of 0.91. RB Global, Inc. has a 12 month low of $55.54 and a 12 month high of $81.87. The stock has a fifty day moving average price of $77.36 and a 200-day moving average price of $73.56.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Thursday, May 9th. The business services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.15. RB Global had a net margin of 8.08% and a return on equity of 6.87%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. As a group, equities research analysts anticipate that RB Global, Inc. will post 2.04 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, May 29th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Wednesday, May 29th. RB Global’s payout ratio is presently 65.06%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RBA. CIBC assumed coverage on shares of RB Global in a research report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price objective on the stock. Bank of America increased their target price on shares of RB Global from $68.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Finally, Scotiabank raised their price objective on RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.50.

Insider Activity

In other RB Global news, insider Darren Jeffrey Watt sold 3,637 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $80.66, for a total value of $293,360.42. Following the completion of the sale, the insider now directly owns 17,279 shares in the company, valued at $1,393,724.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Darren Jeffrey Watt sold 3,637 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $80.66, for a total transaction of $293,360.42. Following the transaction, the insider now owns 17,279 shares in the company, valued at $1,393,724.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Baron Concors sold 13,230 shares of RB Global stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $75.05, for a total transaction of $992,911.50. Following the completion of the sale, the insider now owns 15,487 shares of the company’s stock, valued at $1,162,299.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,867 shares of company stock worth $3,370,272. Insiders own 4.32% of the company’s stock.

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.