Insider Selling: RB Global, Inc. (NYSE:RBA) CEO Sells 17,883 Shares of Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the sale, the chief executive officer now directly owns 86,247 shares in the company, valued at approximately $7,261,134.93. The sale was disclosed in a legal filing with the SEC, which is available at this link.

James Francis Kessler also recently made the following trade(s):

• On Monday, September 9th, James Francis Kessler sold 17,883 shares of RB Global stock. The shares were sold at an average price of $83.09, for a total value of $1,485,898.47.

RB Global Price Performance

RBA stock opened at $82.12 on Thursday. The stock’s 50 day moving average price is $82.02 and its 200 day moving average price is $77.87. The firm has a market cap of $15.02 billion, a P/E ratio of 49.47, a PEG ratio of 5.39 and a beta of 0.93. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29. RB Global, Inc. has a 1 year low of $58.85 and a 1 year high of $87.45.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data 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. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. On average, sell-side analysts expect that RB Global, Inc. will post 1.96 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, August 28th. This is an increase from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.41%. RB Global’s payout ratio is 69.88%.

Hedge Funds Weigh In On RB Global

Several institutional investors and hedge funds have recently modified their holdings of RBA. Wells Fargo & Company MN lifted its stake in shares of RB Global by 8.9% during the 4th quarter. Wells Fargo & Company MN now owns 132,663 shares of the business services provider’s stock worth $8,874,000 after purchasing an additional 10,867 shares during the period. Corient Private Wealth LLC lifted its position in RB Global by 8.1% during the fourth quarter. Corient Private Wealth LLC now owns 20,786 shares of the business services provider’s stock worth $1,390,000 after buying an additional 1,557 shares during the period. Assetmark Inc. grew its holdings in RB Global by 36.0% in the 4th quarter. Assetmark Inc. now owns 5,827 shares of the business services provider’s stock valued at $390,000 after buying an additional 1,542 shares during the period. Franklin Resources Inc. increased its stake in shares of RB Global by 4.8% during the 4th quarter. Franklin Resources Inc. now owns 13,228 shares of the business services provider’s stock valued at $885,000 after acquiring an additional 601 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of RB Global by 3.9% during the 4th quarter. TD Asset Management Inc now owns 603,261 shares of the business services provider’s stock worth $40,567,000 after acquiring an additional 22,636 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on RBA shares. CIBC began coverage on shares of RB Global in a research report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 target price on the stock. BMO Capital Markets started coverage on shares of RB Global in a report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price objective on the stock. Bank of America increased their target price on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. Royal Bank of Canada boosted their price target on RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Robert W. Baird raised their price objective on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $92.19.

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.