Prudential Financial Inc. Decreases Holdings in RB Global, Inc. (NYSE:RBA)

Prudential Financial Inc. trimmed its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.7% during the fourth quarter, Holdings Channel reports. The fund owned 16,618 shares of the business services provider’s stock after selling 1,591 shares during the period. Prudential Financial Inc.’s holdings in RB Global were worth $1,499,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of RBA. Central Pacific Bank Trust Division purchased a new stake in RB Global in the fourth quarter worth $27,000. Versant Capital Management Inc increased its holdings in RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after acquiring an additional 176 shares during the last quarter. Jones Financial Companies Lllp raised its stake in RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 129 shares during the period. Proficio Capital Partners LLC purchased a new stake in RB Global during the fourth quarter valued at about $36,000. Finally, Whipplewood Advisors LLC bought a new position in RB Global during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on RBA shares. CIBC lowered their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets boosted their target price on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird lifted their price target on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com lowered RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, Royal Bank of Canada raised their price objective on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.64.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the sale, the chief executive officer now owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 600 shares of RB Global stock in a transaction on Friday, March 21st. The stock was sold at an average price of $98.63, for a total transaction of $59,178.00. Following the completion of the transaction, the executive now directly owns 19,667 shares in the company, valued at approximately $1,939,756.21. The trade was a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,897 shares of company stock worth $2,338,161. 4.32% of the stock is currently owned by insiders.

RB Global Trading Down 6.3 %

Shares of RBA opened at $91.91 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. RB Global, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90. The company has a market capitalization of $16.99 billion, a P/E ratio of 45.73, a P/E/G ratio of 4.95 and a beta of 0.90. The firm’s 50 day simple moving average is $97.22 and its 200 day simple moving average is $91.91.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the firm posted $0.82 earnings per share. Sell-side analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Friday, February 14th. RB Global’s dividend payout ratio (DPR) is presently 57.71%.

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.