James J. Jeter Sells 2,920 Shares of RB Global, Inc. (NYSE:RBA) Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) CRO James J. Jeter sold 2,920 shares of RB Global stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the sale, the executive now owns 23,267 shares of the company’s stock, valued at $1,837,162.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

RB Global Trading Up 1.7 %

Shares of RBA traded up $1.31 on Wednesday, hitting $80.03. 417,809 shares of the stock traded hands, compared to its average volume of 1,124,204. RB Global, Inc. has a 1 year low of $55.67 and a 1 year high of $81.87. The stock’s 50 day moving average is $78.12 and its two-hundred day moving average is $74.85. The firm has a market capitalization of $14.63 billion, a P/E ratio of 47.90, a P/E/G ratio of 5.40 and a beta of 0.91. 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 (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, topping 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 business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 EPS. As a group, sell-side analysts predict that RB Global, Inc. will post 2.04 earnings per share for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.45%. This is an increase from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio is currently 69.88%.

Institutional Investors Weigh In On RB Global

Several hedge funds have recently modified their holdings of RBA. Advisor OS LLC increased its position in RB Global by 1.9% during the second quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock worth $638,000 after purchasing an additional 156 shares during the last quarter. Oakworth Capital Inc. grew its stake in shares of RB Global by 53.3% during the 4th quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after buying an additional 162 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in shares of RB Global by 58.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after buying an additional 165 shares during the last quarter. Signaturefd LLC raised its position in shares of RB Global by 11.0% in the 4th quarter. Signaturefd LLC now owns 1,917 shares of the business services provider’s stock worth $128,000 after buying an additional 190 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in RB Global by 33.5% in the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 210 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RBA. CIBC started coverage on RB Global in a research note on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price objective for the company. Raymond James upped their price target on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Royal Bank of Canada raised their price objective on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Bank of America lifted their price objective on RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Finally, Robert W. Baird increased their target price on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.43.

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.