Bank of New York Mellon Corp Sells 16,823 Shares of RB Global, Inc. (NYSE:RBA)

Bank of New York Mellon Corp trimmed its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,185,194 shares of the business services provider's stock after selling 16,823 shares during the period. Bank of New York Mellon Corp owned about 0.64% of RB Global worth $118,875,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its position in RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after buying an additional 117 shares during the period. MV Capital Management Inc. boosted its position in RB Global by 5,560.0% during the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock valued at $28,000 after buying an additional 278 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after purchasing an additional 129 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in shares of RB Global during the fourth quarter worth about $59,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of RB Global during the fourth quarter worth about $111,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RBA shares. Wall Street Zen lowered shares of RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Robert W. Baird increased their target price on shares of RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. National Bankshares dropped their target price on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Royal Bank Of Canada set a $125.00 target price on shares of RB Global and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Finally, CIBC increased their target price on shares of RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $115.79.

RB Global Stock Up 0.4%

Shares of RBA stock traded up $0.42 during trading hours on Friday, hitting $108.11. 1,019,120 shares of the company's stock traded hands, compared to its average volume of 958,149. The stock's fifty day simple moving average is $105.72 and its two-hundred day simple moving average is $99.09. RB Global, Inc. has a 12-month low of $70.38 and a 12-month high of $109.25. The stock has a market cap of $20.02 billion, a price-to-earnings ratio of 53.26, a PEG ratio of 2.47 and a beta of 0.77. 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 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. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business earned $0.90 earnings per share. The business's revenue was up 4.1% on a year-over-year basis. On average, analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.07%. RB Global's payout ratio is 57.14%.

Insider Buying and Selling at RB Global

In other news, CRO James J. Jeter sold 3,500 shares of RB Global stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $104.38, for a total transaction of $365,330.00. Following the completion of the transaction, the executive directly owned 16,167 shares in the company, valued at approximately $1,687,511.46. This trade represents a 17.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Adam Dewitt sold 800 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $84,936.00. Following the sale, the director directly owned 5,865 shares of the company's stock, valued at $622,687.05. This trade represents a 12.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,075 shares of company stock valued at $2,007,349 over the last ninety days. Company insiders own 4.32% 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.