RB Global, Inc. (NYSE:RBA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Proficio Capital Partners LLC purchased a new stake in RB Global in the 4th quarter worth $36,000. Jones Financial Companies Lllp increased its stake 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 in the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of RB Global during the fourth quarter worth about $13,481,000. AGF Management Ltd. raised its position in shares of RB Global by 8.3% during the 4th quarter. AGF Management Ltd. now owns 127,867 shares of the business services provider's stock worth $11,541,000 after purchasing an additional 9,850 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in RB Global by 8.0% in the 4th quarter. HighTower Advisors LLC now owns 17,222 shares of the business services provider's stock valued at $1,554,000 after buying an additional 1,271 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other RB Global news, insider Darren Jeffrey Watt sold 3,700 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total value of $392,829.00. Following the transaction, the insider owned 24,874 shares of the company's stock, valued at $2,640,872.58. This represents a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Andrew John Fesler sold 9,075 shares of RB Global stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total transaction of $950,334.00. Following the sale, the insider owned 5,532 shares of the company's stock, valued at approximately $579,311.04. This represents a 62.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,075 shares of company stock valued at $2,007,349. 4.32% of the stock is owned by company insiders.

RB Global Trading Up 1.8%

NYSE:RBA traded up $1.88 on Thursday, hitting $107.72. The stock had a trading volume of 743,710 shares, compared to its average volume of 955,621. The company has a fifty day moving average price of $105.46 and a two-hundred day moving average price of $98.74. RB Global, Inc. has a 1-year low of $70.38 and a 1-year high of $109.25. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The stock has a market cap of $19.95 billion, a price-to-earnings ratio of 53.06, a PEG ratio of 3.73 and a beta of 0.77.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, meeting analysts' consensus estimates of $0.89. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.02 billion. RB Global had a return on equity of 8.03% and a net margin of 9.68%. The firm'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. Equities research analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently declared 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Thursday, May 29th. RB Global's dividend payout ratio is presently 57.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RBA shares. Royal Bank Of Canada set a $125.00 target price on shares of RB Global and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Wall Street Zen cut shares of RB Global from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Raymond James Financial raised their target price on shares of RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. National Bank Financial cut RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Finally, Robert W. Baird increased their price target on RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, RB Global presently has a consensus rating of "Moderate Buy" and an average target price of $115.79.

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.