Alpine Global Management LLC Buys Shares of 8,745 RB Global, Inc. (NYSE:RBA)

Alpine Global Management LLC purchased a new position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,745 shares of the business services provider's stock, valued at approximately $789,000.

Other hedge funds have also made changes to their positions in the company. CoreCap Advisors LLC boosted its holdings in shares of RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after purchasing an additional 117 shares during the last quarter. Jones Financial Companies Lllp raised its position 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 during the period. Proficio Capital Partners LLC purchased a new stake in RB Global during the fourth quarter valued at about $36,000. Whipplewood Advisors LLC purchased a new stake in RB Global during the fourth quarter valued at about $37,000. Finally, Geneos Wealth Management Inc. acquired a new stake in RB Global during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 95.37% of the company's stock.

RB Global Stock Performance

Shares of RB Global stock traded up $0.02 on Wednesday, reaching $104.76. 1,530,889 shares of the company were exchanged, compared to its average volume of 1,128,134. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The firm has a market cap of $19.40 billion, a price-to-earnings ratio of 52.09, a P/E/G ratio of 4.95 and a beta of 0.78. RB Global, Inc. has a 1-year low of $70.27 and a 1-year high of $109.25. The company's 50-day moving average is $100.39 and its two-hundred day moving average is $96.54.

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 EPS for the quarter, meeting the consensus estimate of $0.89. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. RB Global's revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.90 earnings per share. As a group, research analysts expect 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 Friday, June 20th. Investors of record on Thursday, May 29th will be given a $0.29 dividend. The ex-dividend date is Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.11%. RB Global's dividend payout ratio is presently 57.14%.

Insiders Place Their Bets

In other RB Global news, insider Andrew John Fesler sold 9,075 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total value of $950,334.00. Following the transaction, the insider now owns 5,532 shares of the company's stock, valued at approximately $579,311.04. This represents a 62.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO James J. Jeter sold 7,597 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.85, for a total value of $743,366.45. Following the sale, the executive now directly owns 20,267 shares of the company's stock, valued at approximately $1,983,125.95. This represents a 27.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,472 shares of company stock worth $3,867,745. 4.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on RBA. Wall Street Zen raised shares of RB Global from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. National Bank Financial cut RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday. Robert W. Baird lifted their price objective on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. National Bankshares decreased 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. Finally, Royal Bank of Canada raised their price target on shares of RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $114.50.

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.