LPL Financial LLC Boosts Stock Position in RB Global, Inc. (NYSE:RBA)

LPL Financial LLC boosted its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,325 shares of the business services provider’s stock after acquiring an additional 1,462 shares during the period. LPL Financial LLC’s holdings in RB Global were worth $6,344,000 at the end of the most recent quarter.

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

Insider Activity

In related news, CRO James J. Jeter sold 7,597 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.85, for a total value of $743,366.45. Following the completion of the sale, the executive now owns 20,267 shares in the company, valued at approximately $1,983,125.95. The trade was a 27.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 107,569 shares in the company, valued at $10,521,323.89. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,897 shares of company stock valued at $2,338,161. 4.32% of the stock is currently owned by company insiders.

RB Global Stock Down 6.3 %

NYSE RBA opened at $91.91 on Monday. The company has a fifty day moving average of $97.22 and a two-hundred day moving average of $91.96. The firm has a market capitalization of $16.99 billion, a price-to-earnings ratio of 45.73, a PEG 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. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data 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). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period in the previous year, the business earned $0.82 EPS. On average, analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on RBA shares. Robert W. Baird boosted their target price on RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Raymond James upped their price objective on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Royal Bank of Canada increased 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. CIBC reduced 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. Finally, StockNews.com lowered shares of RB Global from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.64.

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.