Bank of New York Mellon Corp Sells 28,726 Shares of RB Global, Inc. $RBA

Bank of New York Mellon Corp cut its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,045,910 shares of the business services provider’s stock after selling 28,726 shares during the quarter. Bank of New York Mellon Corp’s holdings in RB Global were worth $107,593,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caprock Group LLC bought a new stake in shares of RB Global during the 3rd quarter valued at about $1,724,000. Cibc World Market Inc. raised its stake in RB Global by 60.7% in the third quarter. Cibc World Market Inc. now owns 179,707 shares of the business services provider’s stock worth $19,461,000 after buying an additional 67,860 shares in the last quarter. Fiera Capital Corp lifted its holdings in RB Global by 4.9% in the third quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider’s stock worth $440,353,000 after buying an additional 190,408 shares during the period. TD Asset Management Inc lifted its holdings in RB Global by 1.2% in the third quarter. TD Asset Management Inc now owns 949,779 shares of the business services provider’s stock worth $102,896,000 after buying an additional 10,877 shares during the period. Finally, Vanguard Group Inc. boosted its position in RB Global by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider’s stock valued at $2,744,455,000 after acquiring an additional 124,926 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

RBA stock opened at $104.47 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.07 and a current ratio of 1.14. The firm has a 50 day moving average price of $102.77 and a 200-day moving average price of $104.06. RB Global, Inc. has a 52-week low of $93.58 and a 52-week high of $119.58. The firm has a market capitalization of $19.42 billion, a price-to-earnings ratio of 48.59, a PEG ratio of 1.66 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.04. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the business posted $0.89 EPS. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities research analysts forecast that RB Global, Inc. will post 4.09 EPS for the current fiscal year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, May 27th. RB Global’s dividend payout ratio is currently 57.67%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RBA shares. Stephens reiterated an “equal weight” rating and set a $96.00 target price on shares of RB Global in a report on Tuesday, May 5th. Weiss Ratings restated a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Barclays started coverage on RB Global in a research note on Thursday, May 28th. They issued an “overweight” rating and a $124.00 price target on the stock. Royal Bank Of Canada increased their price objective on RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $126.13.

Insider Buying and Selling at RB Global

In related news, Director Deborah Stein purchased 425 shares of the stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average price of $103.15 per share, with a total value of $43,838.75. Following the transaction, the director directly owned 1,825 shares in the company, valued at $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is owned by insiders.

RB Global 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.