Amundi Sells 26,887 Shares of RB Global, Inc. $RBA

Key Points

• Amundi has reduced its stake in RB Global, Inc. by 15.6%, selling 26,887 shares, leaving them with a total of 144,930 shares valued at approximately $14.2 million.
• Analysts have mixed ratings on RB Global, with an average target price of $124.33, and four firms rating the stock as a "Buy" while two have it as a "Hold".
• RB Global recently announced an increase in its quarterly dividend to $0.31, which will be paid to shareholders in September, reflecting a positive change from the previous dividend of $0.29.

Amundi trimmed its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 15.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 144,930 shares of the business services provider's stock after selling 26,887 shares during the quarter. Amundi owned about 0.08% of RB Global worth $14,209,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. CoreCap Advisors LLC lifted its position in shares of RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after acquiring an additional 117 shares during the period. SouthState Corp bought a new stake in shares of RB Global during the 1st quarter worth $26,000. MV Capital Management Inc. lifted its position in shares of RB Global by 5,560.0% during the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock worth $28,000 after buying an additional 278 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of RB Global during the 1st quarter worth $28,000. Finally, IFP Advisors Inc lifted its position in shares of RB Global by 348.8% during the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock worth $36,000 after buying an additional 279 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Raymond James Financial upped their price objective on RB Global from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. National Bankshares upped their price objective on RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Wall Street Zen downgraded RB Global from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. CIBC upped their price objective on RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a research report on Friday, July 18th. Finally, Royal Bank Of Canada upped their target price on RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $124.33.

Insider Activity at RB Global

In other RB Global news, 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 sale, the insider directly owned 24,874 shares of the company's stock, valued at $2,736,140. This trade represents a 22.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO James Francis Kessler sold 45,658 shares of RB Global stock in a transaction on Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $5,022,380.00. Following the completion of the transaction, the chief executive officer owned 107,569 shares of the company's stock, valued at approximately $11,832,590. This trade represents a 29.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,209 shares of company stock valued at $6,090,521. 0.28% of the stock is owned by insiders.

RB Global Trading Down 0.3%

NYSE RBA traded down $0.40 during trading hours on Monday, hitting $116.75. 958,250 shares of the company's stock were exchanged, compared to its average volume of 842,845. The stock has a 50-day simple moving average of $112.51 and a 200 day simple moving average of $105.51. The firm has a market cap of $21.67 billion, a price-to-earnings ratio of 57.80, a PEG ratio of 2.72 and a beta of 0.65. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. RB Global, Inc. has a 1-year low of $78.08 and a 1-year high of $118.79.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company earned $0.94 earnings per share. The company's quarterly revenue was up 8.2% on a year-over-year basis. On average, equities analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 28th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, August 28th. This is a positive change from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. RB Global's dividend payout ratio (DPR) is 61.39%.

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.