RB Global, Inc. $RBA Shares Sold by Amundi

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 holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 15.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 144,930 shares of the business services provider's stock after selling 26,887 shares during the quarter. Amundi owned 0.08% of RB Global worth $14,209,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of RB Global by 3.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider's stock worth $1,027,191,000 after acquiring an additional 352,530 shares during the period. Fiera Capital Corp raised its position in shares of RB Global by 17.3% in the first quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider's stock worth $379,150,000 after acquiring an additional 557,407 shares during the period. Invesco Ltd. raised its position in shares of RB Global by 26.9% in the first quarter. Invesco Ltd. now owns 2,436,296 shares of the business services provider's stock worth $244,360,000 after acquiring an additional 516,865 shares during the period. Wellington Management Group LLP raised its position in shares of RB Global by 1.1% in the first quarter. Wellington Management Group LLP now owns 1,854,476 shares of the business services provider's stock worth $186,098,000 after acquiring an additional 19,543 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in shares of RB Global by 44.4% in the first quarter. Alyeska Investment Group L.P. now owns 1,508,784 shares of the business services provider's stock worth $151,331,000 after acquiring an additional 463,844 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

RB Global Trading Down 1.3%

Shares of NYSE:RBA traded down $1.50 during mid-day trading on Friday, reaching $117.21. 949,227 shares of the company were exchanged, compared to its average volume of 856,475. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. The firm has a market cap of $21.75 billion, a price-to-earnings ratio of 58.03, a P/E/G ratio of 2.76 and a beta of 0.65. The firm's 50-day simple moving average is $112.28 and its 200 day simple moving average is $105.34. 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 posted its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.12. The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.14 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company posted $0.94 EPS. Equities research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

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

Insider Activity at RB Global

In other RB Global news, CEO James Francis Kessler sold 45,658 shares of the firm's stock in a transaction that occurred 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 $11,832,590. This trade represents a 29.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Darren Jeffrey Watt sold 7,400 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $814,000.00. Following the completion of the transaction, the insider directly owned 24,874 shares of the company's stock, valued at $2,736,140. This represents a 22.93% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.32% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on RBA shares. Royal Bank Of Canada increased their price objective on shares of RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. CIBC increased their price target on shares of RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research note on Friday, July 18th. National Bank Financial cut shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. National Bankshares increased their price target on shares of RB Global from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Finally, BMO Capital Markets increased their price target on shares of RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $124.33.

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.