RB Global (NYSE:RBA) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of RB Global (NYSE:RBA) (TSE:RBA) from a buy rating to a hold rating in a research note released on Wednesday morning.

RBA has been the subject of several other reports. Royal Bank of Canada lifted their target price on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Robert W. Baird increased their target price on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Raymond James raised their target price on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. BMO Capital Markets boosted their target price on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, CIBC reduced their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $107.64.

RB Global Stock Down 0.3 %

Shares of NYSE RBA opened at $100.26 on Wednesday. RB Global has a 12-month low of $69.83 and a 12-month high of $106.90. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The stock has a market cap of $18.52 billion, a PE ratio of 49.88, a P/E/G ratio of 4.95 and a beta of 0.94. The company has a 50-day moving average of $96.00 and a 200 day moving average of $91.22.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same quarter in the prior year, the business earned $0.82 EPS. As a group, sell-side analysts predict that RB Global will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

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

Insider Buying and Selling at RB Global

In other news, 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 sale, the executive now directly owns 19,667 shares in the company, valued at $1,939,756.21. This represents a 2.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO James Francis Kessler sold 15,700 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the sale, the chief executive officer now owns 107,569 shares of the company’s stock, valued at $10,521,323.89. The trade was a 12.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,897 shares of company stock worth $2,338,161. Corporate insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in RB Global by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock worth $2,248,060,000 after purchasing an additional 358,752 shares during the last quarter. Vontobel Holding Ltd. boosted its position 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 during the period. State Street Corp grew its position in shares of RB Global by 2.1% during the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock worth $406,087,000 after acquiring an additional 103,080 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of RB Global by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider’s stock valued at $357,434,000 after buying an additional 264,778 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of RB Global by 0.6% in the fourth quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider’s stock worth $307,033,000 after purchasing an additional 19,895 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

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.