RB Global, Inc. (NYSE:RBA) Short Interest Down 21.7% in September

RB Global, Inc. (NYSE:RBA) (TSE:RBA) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 4,810,000 shares, a decline of 21.7% from the September 15th total of 6,140,000 shares. Approximately 2.6% of the company’s shares are short sold. Based on an average daily volume of 773,900 shares, the short-interest ratio is currently 6.2 days.

RB Global Stock Up 1.2 %

RBA traded up $0.97 during trading on Monday, hitting $81.05. The company had a trading volume of 964,586 shares, compared to its average volume of 1,033,539. The company has a market capitalization of $14.82 billion, a PE ratio of 48.83, a PEG ratio of 5.27 and a beta of 0.93. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. RB Global has a one year low of $58.85 and a one year high of $87.45. The firm’s 50-day moving average price is $82.55 and its 200 day moving average price is $78.28.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 earnings per share. As a group, equities analysts expect that RB Global will post 1.92 earnings per share for the current year.

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $1.16 dividend on an annualized basis and a yield of 1.43%. This is an increase from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio is 69.88%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RBA shares. CIBC began coverage on RB Global in a research note on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price objective for the company. Robert W. Baird upped their price target on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Raymond James lifted their price objective on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Bank of America upped their target price on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. Finally, BMO Capital Markets began coverage on shares of RB Global in a research report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $92.19.

Insider Buying and Selling

In other news, insider Darren Jeffrey Watt sold 2,915 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $82.80, for a total transaction of $241,362.00. Following the transaction, the insider now owns 19,271 shares of the company’s stock, valued at $1,595,638.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Darren Jeffrey Watt sold 2,915 shares of RB Global stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the completion of the sale, the insider now owns 19,271 shares in the company, valued at $1,595,638.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the completion of the transaction, the chief executive officer now owns 86,247 shares in the company, valued at $7,166,263.23. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,601 shares of company stock worth $3,720,043 in the last quarter. Insiders own 4.32% of the company’s stock.

Institutional Trading of RB Global

Hedge funds and other institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC acquired a new stake in shares of RB Global in the first quarter valued at about $613,000. Price T Rowe Associates Inc. MD raised its stake in shares of RB Global by 25.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider’s stock worth $27,927,000 after purchasing an additional 74,809 shares in the last quarter. MJP Associates Inc. ADV raised its stake in shares of RB Global by 10.7% during the 2nd quarter. MJP Associates Inc. ADV now owns 4,159 shares of the business services provider’s stock worth $318,000 after purchasing an additional 401 shares in the last quarter. Alaska Permanent Fund Corp boosted its holdings in shares of RB Global by 87.4% in the 1st quarter. Alaska Permanent Fund Corp now owns 67,797 shares of the business services provider’s stock valued at $5,164,000 after buying an additional 31,610 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in RB Global by 21.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 452,402 shares of the business services provider’s stock worth $30,261,000 after buying an additional 79,701 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Company 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.