Ameriprise Financial Inc. Cuts Stake in RB Global, Inc. (NYSE:RBA)

Ameriprise Financial Inc. cut its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 23.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 660,721 shares of the business services provider's stock after selling 203,501 shares during the period. Ameriprise Financial Inc. owned 0.36% of RB Global worth $59,874,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in RB Global by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock valued at $2,248,060,000 after buying an additional 358,752 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of RB Global by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock worth $762,378,000 after acquiring an additional 753,700 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of RB Global by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider's stock valued at $357,434,000 after acquiring an additional 264,778 shares during the last quarter. Boston Partners grew its holdings in shares of RB Global by 6.9% in the fourth quarter. Boston Partners now owns 3,308,977 shares of the business services provider's stock valued at $298,500,000 after purchasing an additional 214,181 shares in the last quarter. Finally, Fiera Capital Corp increased its position in RB Global by 4.1% in the fourth quarter. Fiera Capital Corp now owns 3,216,507 shares of the business services provider's stock worth $290,000,000 after purchasing an additional 125,275 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CRO James J. Jeter sold 600 shares of the company's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $98.63, for a total transaction of $59,178.00. Following the completion of the sale, the executive now directly owns 19,667 shares in the company, valued at $1,939,756.21. This represents a 2.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the transaction, the chief executive officer now owns 107,569 shares in the company, valued at $10,521,323.89. This trade represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,897 shares of company stock valued at $2,338,161 over the last three months. 4.32% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on RBA. StockNews.com upgraded shares of RB Global from a "hold" rating to a "buy" rating in a research report on Friday. National Bankshares reduced their price objective on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. BMO Capital Markets raised their price objective on RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Royal Bank of Canada boosted 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. Finally, Raymond James raised their price target on RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.50.

RB Global Price Performance

RB Global stock opened at $105.91 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The stock has a market cap of $19.61 billion, a price-to-earnings ratio of 52.69, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78. The firm has a 50-day moving average of $98.33 and a two-hundred day moving average of $94.86. RB Global, Inc. has a 1 year low of $70.27 and a 1 year high of $106.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.89. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. RB Global's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 earnings per share. On average, research analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.10%. RB Global's payout ratio is currently 57.14%.

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.

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