Insider Selling: RB Global (NYSE:RBA) CEO Sells $2,385,330.00 in Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) CEO James Francis Kessler sold 20,742 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the completion of the sale, the chief executive officer owned 107,569 shares in the company, valued at $12,370,435. This represents a 16.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

RB Global Stock Down 0.8%

Shares of RBA opened at $115.57 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.23. RB Global, Inc. has a 52 week low of $86.68 and a 52 week high of $119.58. The stock has a market capitalization of $21.48 billion, a price-to-earnings ratio of 55.30, a PEG ratio of 2.17 and a beta of 0.57. The stock has a fifty day moving average of $104.16 and a 200-day moving average of $107.28.

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

RB Global Dividend Announcement

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

Analyst Ratings Changes

RBA has been the topic of a number of recent analyst reports. National Bank Financial raised RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective on the stock in a research note on Monday, November 24th. Bank of America dropped their price objective on shares of RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Raymond James Financial raised their target price on RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of RB Global in a report on Thursday. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $124.13.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RBA. Central Pacific Bank Trust Division grew its holdings in shares of RB Global by 41.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 107 shares in the last quarter. Spire Wealth Management grew its stake in RB Global by 1,090.6% in the 3rd quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 349 shares during the period. State of Wyoming purchased a new stake in shares of RB Global during the 2nd quarter valued at $46,000. SouthState Corp raised its stake in shares of RB Global by 75.6% during the 2nd quarter. SouthState Corp now owns 453 shares of the business services provider’s stock worth $48,000 after purchasing an additional 195 shares during the period. Finally, Whipplewood Advisors LLC boosted its holdings in shares of 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 buying an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.