Truist Financial Corp Sells 8,627 Shares of RB Global, Inc. $RBA

Truist Financial Corp lowered its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 37.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,585 shares of the business services provider’s stock after selling 8,627 shares during the quarter. Truist Financial Corp’s holdings in RB Global were worth $1,580,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of RBA. Spire Wealth Management grew its stake in shares of RB Global by 1,090.6% in the 3rd quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock worth $41,000 after acquiring an additional 349 shares in the last quarter. State of Wyoming bought a new stake in RB Global in the 2nd quarter worth about $46,000. Whipplewood Advisors LLC grew its position in RB Global by 42.9% in the 2nd quarter. Whipplewood Advisors LLC now owns 456 shares of the business services provider’s stock worth $48,000 after purchasing an additional 137 shares in the last quarter. SouthState Corp increased its stake in RB Global by 75.6% in the 2nd quarter. SouthState Corp now owns 453 shares of the business services provider’s stock valued at $48,000 after buying an additional 195 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of 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 buying an additional 97 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RBA shares. Raymond James Financial upped their target price on RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Bank of America reduced their price objective on RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of RB Global in a research note on Thursday, January 22nd. Royal Bank Of Canada increased their price target 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. Finally, Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.13.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 20,742 shares of RB Global stock in a transaction on 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 transaction, the chief executive officer directly 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Deborah Stein acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were bought at an average price of $101.26 per share, for a total transaction of $101,260.00. Following the completion of the purchase, the director owned 1,000 shares in the company, valued at $101,260. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.28% of the stock is owned by company insiders.

RB Global Price Performance

Shares of NYSE:RBA opened at $117.84 on Monday. The firm has a market capitalization of $21.90 billion, a PE ratio of 56.38, a P/E/G ratio of 2.21 and a beta of 0.54. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $107.82 and a two-hundred day moving average price of $107.78. RB Global, Inc. has a twelve month low of $87.87 and a twelve month high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.10. The company 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%. RB Global’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. Equities analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be given a dividend of $0.31 per share. 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 is currently 59.33%.

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.