Franklin Resources Inc. Boosts Stock Position in RB Global, Inc. (NYSE:RBA)

Franklin Resources Inc. boosted its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 9.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,777 shares of the business services provider’s stock after buying an additional 1,209 shares during the period. Franklin Resources Inc.’s holdings in RB Global were worth $1,242,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RBA. Raymond James Financial Inc. bought a new position in shares of RB Global during the fourth quarter valued at $266,148,000. Norges Bank purchased a new stake in RB Global during the 4th quarter valued at about $209,931,000. Vontobel Holding Ltd. increased its stake in RB Global by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after purchasing an additional 753,700 shares in the last quarter. Vanguard Group Inc. raised its holdings in RB Global by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock worth $2,248,060,000 after buying an additional 358,752 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of RB Global by 6.9% in the fourth quarter. Boston Partners now owns 3,308,977 shares of the business services provider’s stock worth $298,500,000 after buying an additional 214,181 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Activity at RB Global

In other news, CEO James Francis Kessler sold 15,700 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the sale, the chief executive officer now directly owns 107,569 shares in the company, valued at $10,521,323.89. This trade represents a 12.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO James J. Jeter sold 600 shares of the company’s 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 of the company’s stock, valued at $1,939,756.21. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,897 shares of company stock worth $2,338,161. Corporate insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on RBA. Raymond James raised their price target on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. CIBC decreased their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. Robert W. Baird upped their price target on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, BMO Capital Markets upped their target price on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, RB Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.56.

RB Global Trading Up 0.7 %

RB Global stock opened at $97.84 on Tuesday. RB Global, Inc. has a 52-week low of $69.83 and a 52-week high of $106.90. The company has a market cap of $18.08 billion, a P/E ratio of 48.68, a P/E/G ratio of 4.95 and a beta of 0.90. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The business has a 50-day simple moving average of $97.87 and a two-hundred day simple moving average of $92.51.

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 net margin of 9.64% and a return on equity of 8.00%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm posted $0.82 earnings per share. Analysts predict that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.19%. RB Global’s dividend payout ratio is currently 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.