RB Global, Inc. (NYSE:RBA) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,615 shares of the business services provider's stock after selling 3,129 shares during the quarter. Amalgamated Bank's holdings in RB Global were worth $8,487,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Natixis Advisors LLC raised its holdings in shares of RB Global by 69.5% in the fourth quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider's stock worth $1,703,000 after buying an additional 7,737 shares during the period. QRG Capital Management Inc. increased its stake in RB Global by 122.2% in the first quarter. QRG Capital Management Inc. now owns 7,678 shares of the business services provider's stock worth $770,000 after purchasing an additional 4,222 shares during the period. Mawer Investment Management Ltd. increased its stake in RB Global by 15.7% in the fourth quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider's stock worth $10,876,000 after purchasing an additional 16,397 shares during the period. Vanguard Group Inc. lifted its position in shares of 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 worth $2,248,060,000 after purchasing an additional 358,752 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of RB Global by 9.2% during the fourth quarter. MetLife Investment Management LLC now owns 103,934 shares of the business services provider's stock valued at $9,376,000 after purchasing an additional 8,723 shares during the period. Institutional investors own 95.37% of the company's stock.

RB Global Stock Down 0.9%

Shares of NYSE RBA traded down $1.00 during mid-day trading on Wednesday, reaching $104.87. 173,412 shares of the company were exchanged, compared to its average volume of 953,035. RB Global, Inc. has a 1 year low of $70.38 and a 1 year high of $109.25. The firm has a 50-day moving average of $104.69 and a 200 day moving average of $98.23. The stock has a market cap of $19.42 billion, a price-to-earnings ratio of 51.69, a P/E/G ratio of 3.78 and a beta of 0.78. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released 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 business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The company's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 earnings per share. On average, research analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current 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 paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Thursday, May 29th. RB Global's dividend payout ratio (DPR) is presently 57.14%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. National Bankshares lowered their price objective on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. National Bank Financial lowered RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. CIBC increased 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. Robert W. Baird lifted their target price 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, Raymond James Financial increased 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $114.50.

Insiders Place Their Bets

In other RB Global news, CRO James J. Jeter sold 2,000 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $106.96, for a total value of $213,920.00. Following the completion of the transaction, the executive owned 14,167 shares of the company's stock, valued at approximately $1,515,302.32. This trade represents a 12.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Darren Jeffrey Watt sold 3,700 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $392,829.00. Following the sale, the insider directly owned 24,874 shares in the company, valued at $2,640,872.58. This trade represents a 12.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,075 shares of company stock worth $2,007,349 in the last three months. Insiders own 0.28% of the company's stock.

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.