RB Global, Inc. (NYSE:RBA) to Issue $0.29 Quarterly Dividend

RB Global, Inc. (NYSE:RBA) (TSE:RBA) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Shareholders of record on Wednesday, November 27th will be given a dividend of 0.29 per share by the business services provider on Wednesday, December 18th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Wednesday, November 27th.

RB Global has raised its dividend by an average of 8.7% per year over the last three years and has raised its dividend every year for the last 20 years. RB Global has a dividend payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect RB Global to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 46.4%.

RB Global Stock Up 2.6 %

Shares of NYSE RBA opened at $97.81 on Monday. The company’s 50 day moving average price is $85.55 and its 200-day moving average price is $81.29. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. RB Global has a 52-week low of $60.84 and a 52-week high of $97.83. The company has a market capitalization of $18.04 billion, a P/E ratio of 53.16, a price-to-earnings-growth ratio of 4.70 and a beta of 0.92.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RBA. Robert W. Baird upped their price objective on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Royal Bank of Canada raised their price objective on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Bank of America upped their target price on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Raymond James lifted their price target on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, BMO Capital Markets upped their price objective on shares of RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.36.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was 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 of the company’s stock, valued at approximately $7,166,263.23. The trade was a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.10% 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.