Darren Jeffrey Watt Sells 7,400 Shares of RB Global, Inc. (NYSE:RBA) Stock

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA insider Darren Jeffrey Watt sold 7,400 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $814,000.00. Following the completion of the transaction, the insider directly owned 24,874 shares of the company's stock, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Darren Jeffrey Watt also recently made the following trade(s):

• On Tuesday, June 10th, Darren Jeffrey Watt sold 3,700 shares of RB Global stock. The shares were sold at an average price of $106.17, for a total transaction of $392,829.00.

RB Global Stock Up 1.4%

Shares of NYSE:RBA traded up $1.54 during midday trading on Wednesday, hitting $109.32. The stock had a trading volume of 745,596 shares, compared to its average volume of 958,922. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The business's 50-day simple moving average is $106.00 and its 200-day simple moving average is $99.28. RB Global, Inc. has a 12 month low of $70.38 and a 12 month high of $111.07. The company has a market cap of $20.25 billion, a P/E ratio of 53.84, a PEG ratio of 2.51 and a beta of 0.77.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. RB Global had a net margin of 9.68% and a return on equity of 8.03%. RB Global's revenue was up 4.1% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS. On average, sell-side analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, May 29th. RB Global's dividend payout ratio is 57.14%.

Hedge Funds Weigh In On RB Global

Large investors have recently modified their holdings of the stock. Norges Bank acquired a new position in RB Global in the 4th quarter valued at about $209,931,000. FMR LLC grew its position in shares of RB Global by 137.5% in the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider's stock valued at $252,985,000 after purchasing an additional 1,623,429 shares during the last quarter. Samlyn Capital LLC acquired a new position in shares of RB Global in the first quarter valued at approximately $118,821,000. Third Point LLC acquired a new stake in RB Global during the 1st quarter worth approximately $95,285,000. Finally, Fiera Capital Corp boosted its stake in RB Global by 17.3% in the 1st quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider's stock valued at $379,150,000 after purchasing an additional 557,407 shares during the period. 95.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RBA shares. CIBC boosted their price objective on RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research note on Friday, May 9th. National Bank Financial cut RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Robert W. Baird boosted their price target on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Wall Street Zen downgraded shares of RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Raymond James Financial upped 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, May 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $115.79.

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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