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 the company’s stock in a transaction on 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 $7,166,263.23. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Tuesday, June 18th, James Francis Kessler sold 8,000 shares of RB Global stock. The stock was sold at an average price of $80.91, for a total transaction of $647,280.00.

RB Global Stock Performance

Shares of RBA stock opened at $84.04 on Wednesday. RB Global, Inc. has a one year low of $58.85 and a one year high of $87.45. The company’s 50-day moving average is $80.56 and its 200 day moving average is $77.18. The company has a market capitalization of $15.37 billion, a price-to-earnings ratio of 50.63, a price-to-earnings-growth ratio of 5.28 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 (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm posted $0.42 EPS. RB Global’s revenue for the quarter was down .9% on a year-over-year basis. Sell-side analysts expect that RB Global, Inc. will post 1.96 EPS for the current fiscal year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Wednesday, August 28th. This is an increase from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio (DPR) is presently 69.88%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Robert W. Baird increased their price target on shares of RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Bank of America increased their price target on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Raymond James increased their price target 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. Royal Bank of Canada increased their price target 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. Finally, BMO Capital Markets assumed coverage on shares of RB Global in a research note on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.19.

Institutional Trading of RB Global

A number of institutional investors have recently made changes to their positions in RBA. International Assets Investment Management LLC purchased a new stake in shares of RB Global during the 4th quarter valued at about $900,000. Amalgamated Bank boosted its holdings in shares of RB Global by 5.2% during the 4th quarter. Amalgamated Bank now owns 24,374 shares of the business services provider’s stock valued at $1,630,000 after acquiring an additional 1,199 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of RB Global during the 4th quarter valued at about $260,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of RB Global by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,030,810 shares of the business services provider’s stock valued at $68,951,000 after acquiring an additional 24,684 shares during the last quarter. Finally, Advisor OS LLC boosted its holdings in shares of RB Global by 19.2% during the 4th quarter. Advisor OS LLC now owns 7,214 shares of the business services provider’s stock valued at $483,000 after acquiring an additional 1,163 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.