Crestline Management LP Acquires Shares of 14,738 RB Global, Inc. (NYSE:RBA)

Crestline Management LP acquired a new position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,738 shares of the business services provider's stock, valued at approximately $1,330,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in RB Global by 0.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider's stock worth $3,674,000 after acquiring an additional 113 shares during the period. Jones Financial Companies Lllp raised its stake in shares of RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after buying an additional 129 shares in the last quarter. Summit Trail Advisors LLC raised its stake in shares of RB Global by 4.6% in the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider's stock worth $279,000 after buying an additional 137 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of RB Global by 25.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider's stock worth $64,000 after buying an additional 143 shares in the last quarter. Finally, Claret Asset Management Corp raised its stake in shares of RB Global by 1.6% in the 4th quarter. Claret Asset Management Corp now owns 10,233 shares of the business services provider's stock worth $923,000 after buying an additional 163 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com raised RB Global from a "hold" rating to a "buy" rating in a research note on Friday. Raymond James boosted their target price on RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. CIBC boosted their target price on RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research report on Friday. Robert W. Baird upped their price target on RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, BMO Capital Markets upped their price target on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $114.50.

RB Global Stock Performance

NYSE:RBA traded up $0.59 during mid-day trading on Tuesday, hitting $104.76. 828,359 shares of the company's stock traded hands, compared to its average volume of 1,107,873. The firm has a 50 day moving average of $98.41 and a two-hundred day moving average of $95.06. RB Global, Inc. has a 12 month low of $70.27 and a 12 month high of $107.99. The firm has a market capitalization of $19.40 billion, a price-to-earnings ratio of 52.12, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

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

RB Global Announces Dividend

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

Insiders Place Their Bets

In related news, CEO James Francis Kessler sold 15,700 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the sale, the chief executive officer now directly owns 107,569 shares of the company's stock, valued at $10,521,323.89. This trade represents a 12.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO James J. Jeter sold 600 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $98.63, for a total value of $59,178.00. Following the completion of the transaction, the executive now owns 19,667 shares in the company, valued at $1,939,756.21. The trade was a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,397 shares of company stock worth $2,703,491. 4.32% of the stock is currently owned by company 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.