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 RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,185,194 shares of the business services provider's stock after selling 16,823 shares during the quarter. Bank of New York Mellon Corp owned 0.64% of RB Global worth $118,875,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in shares of RB Global by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 424,209 shares of the business services provider's stock worth $42,548,000 after acquiring an additional 1,552 shares during the last quarter. Wilson Asset Management International PTY Ltd. lifted its holdings in shares of RB Global by 24.9% in the 1st quarter. Wilson Asset Management International PTY Ltd. now owns 145,588 shares of the business services provider's stock worth $14,602,000 after acquiring an additional 29,061 shares during the last quarter. Keybank National Association OH lifted its holdings in shares of RB Global by 8.4% in the 1st quarter. Keybank National Association OH now owns 7,967 shares of the business services provider's stock worth $799,000 after acquiring an additional 619 shares during the last quarter. Kampmann Melissa S. lifted its holdings in shares of RB Global by 0.5% in the 1st quarter. Kampmann Melissa S. now owns 29,900 shares of the business services provider's stock worth $2,999,000 after acquiring an additional 150 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its holdings in shares of RB Global by 3.0% in the 1st quarter. Peregrine Capital Management LLC now owns 72,607 shares of the business services provider's stock worth $7,282,000 after acquiring an additional 2,097 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RBA has been the subject of a number of recent analyst reports. CIBC upped their price target on shares of RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a report on Friday, May 9th. National Bankshares lowered their price target 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. National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Raymond James Financial upped their price target on shares of RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, Robert W. Baird upped their price target on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, RB Global has a consensus rating of "Moderate Buy" and an average price target of $115.79.

RB Global Trading Up 0.7%

RB Global stock traded up $0.77 during mid-day trading on Friday, reaching $108.46. 467,994 shares of the company traded hands, compared to its average volume of 1,096,714. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 1.21. The firm's 50 day moving average price is $105.61 and its 200 day moving average price is $98.86. The firm has a market capitalization of $20.09 billion, a price-to-earnings ratio of 53.43, a P/E/G ratio of 2.42 and a beta of 0.77. RB Global, Inc. has a 52-week low of $70.38 and a 52-week high of $109.25.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.89. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 EPS. On average, analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

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

Insider Buying and Selling at RB Global

In other news, CRO James J. Jeter sold 2,000 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $106.96, for a total value of $213,920.00. Following the sale, the executive directly owned 14,167 shares of the company's stock, valued at $1,515,302.32. This represents a 12.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darren Jeffrey Watt sold 3,700 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total transaction of $392,829.00. Following the completion of the sale, the insider directly owned 24,874 shares in the company, valued at $2,640,872.58. This represents a 12.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,075 shares of company stock valued at $2,007,349 over the last 90 days. 4.32% of the stock is owned by corporate insiders.

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.