Balyasny Asset Management L.P. Reduces Position in RB Global, Inc. (NYSE:RBA)

Balyasny Asset Management L.P. cut its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 37.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 301,782 shares of the business services provider's stock after selling 178,894 shares during the period. Balyasny Asset Management L.P. owned 0.16% of RB Global worth $27,224,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in shares of RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock worth $28,000 after purchasing an additional 176 shares in the last quarter. Diversified Trust Co increased its stake in shares of RB Global by 48.9% in the fourth quarter. Diversified Trust Co now owns 63,119 shares of the business services provider's stock worth $5,694,000 after purchasing an additional 20,724 shares in the last quarter. City Center Advisors LLC purchased a new stake in shares of RB Global in the fourth quarter worth $338,000. Armstrong Henry H Associates Inc. increased its stake in shares of RB Global by 3.9% in the fourth quarter. Armstrong Henry H Associates Inc. now owns 8,305 shares of the business services provider's stock worth $749,000 after purchasing an additional 310 shares in the last quarter. Finally, Park Avenue Securities LLC increased its stake in shares of RB Global by 8.9% in the fourth quarter. Park Avenue Securities LLC now owns 8,082 shares of the business services provider's stock worth $729,000 after purchasing an additional 658 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Insider Activity

In related news, 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 transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares of the company's stock, valued at approximately $10,521,323.89. The trade was a 12.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO James J. Jeter sold 600 shares of RB Global stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $98.63, for a total transaction of $59,178.00. Following the transaction, the executive now directly owns 19,667 shares of the company's stock, valued at approximately $1,939,756.21. This represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,897 shares of company stock valued at $2,338,161. 4.32% of the stock is currently owned by insiders.

RB Global Price Performance

Shares of NYSE:RBA traded down $1.02 on Monday, reaching $104.92. The company's stock had a trading volume of 333,982 shares, compared to its average volume of 1,105,072. RB Global, Inc. has a 52-week low of $70.27 and a 52-week high of $109.95. The company has a market cap of $19.42 billion, a P/E ratio of 52.17, a PEG ratio of 4.95 and a beta of 0.78. The company has a 50-day simple moving average of $98.33 and a 200 day simple moving average of $94.93. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, hitting analysts' consensus estimates of $0.89. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same period last year, the company posted $0.90 EPS. The business's revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, May 29th. RB Global's dividend payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. CIBC raised their target price on shares of RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a research note on Friday. BMO Capital Markets raised their target price on shares of RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Robert W. Baird raised their target price on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, National Bankshares cut their target price on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, RB Global has a consensus rating of "Moderate Buy" and a consensus price target of $114.50.

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.