RB Global, Inc. $RBA Shares Sold by Cooke & Bieler LP

Cooke & Bieler LP lessened its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 12.5% during the 3rd quarter, Holdings Channel reports. The firm owned 2,543,717 shares of the business services provider’s stock after selling 362,995 shares during the quarter. RB Global comprises approximately 2.8% of Cooke & Bieler LP’s investment portfolio, making the stock its 5th largest position. Cooke & Bieler LP’s holdings in RB Global were worth $275,637,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. MJP Associates Inc. ADV lifted its stake in shares of RB Global by 2.2% during the second quarter. MJP Associates Inc. ADV now owns 4,434 shares of the business services provider’s stock worth $471,000 after buying an additional 95 shares during the period. Geneos Wealth Management Inc. lifted its position in RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after acquiring an additional 97 shares during the period. Archer Investment Corp grew its stake in RB Global by 6.0% during the 2nd quarter. Archer Investment Corp now owns 1,760 shares of the business services provider’s stock valued at $187,000 after purchasing an additional 100 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of RB Global by 12.9% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 938 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 107 shares during the period. Finally, California State Teachers Retirement System increased its holdings in shares of RB Global by 1.1% in the second quarter. California State Teachers Retirement System now owns 11,693 shares of the business services provider’s stock valued at $1,242,000 after purchasing an additional 124 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Transactions at RB Global

In related news, Director Deborah Stein purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average cost of $101.26 per share, with a total value of $101,260.00. Following the purchase, the director owned 1,000 shares of the company’s stock, valued at $101,260. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Francis Kessler sold 20,742 shares of RB Global stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total value of $2,385,330.00. Following the completion of the sale, the chief executive officer owned 107,569 shares in the company, valued at approximately $12,370,435. The trade was a 16.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is owned by insiders.

RB Global Stock Performance

Shares of RBA stock opened at $115.57 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $21.48 billion, a P/E ratio of 55.30, a P/E/G ratio of 2.17 and a beta of 0.57. The business’s 50 day moving average is $104.16 and its two-hundred day moving average is $107.29. RB Global, Inc. has a 12-month low of $86.68 and a 12-month high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.10. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.05 billion. RB Global had a net margin of 9.65% and a return on equity of 9.66%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 EPS. Analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 9th will be given a $0.31 dividend. The ex-dividend date is Monday, February 9th. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. RB Global’s dividend payout ratio (DPR) is 59.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RBA shares. National Bankshares decreased their target price on RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a report on Thursday, October 9th. Bank of America decreased their price objective on shares of RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Raymond James Financial upped their price objective on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Royal Bank Of Canada boosted their target price on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.13.

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.