Blair William & Co. IL Sells 9,452 Shares of RB Global, Inc. $RBA

Key Points

• Blair William & Co. IL reduced its RB Global stake by 1.2% in the fourth quarter, selling 9,452 shares and ending with 751,879 shares valued at about $77.3 million.
• RB Global reported solid quarterly results, with EPS of $1.01 beating estimates and revenue of $1.21 billion topping expectations; revenue also rose 11.4% year over year.
• Analysts remain mostly bullish on the stock, with seven Buy ratings and one Hold, and a consensus price target of $126.13 versus the recent share price around $110.77.

Blair William & Co. IL lessened its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 751,879 shares of the business services provider's stock after selling 9,452 shares during the period. Blair William & Co. IL owned approximately 0.40% of RB Global worth $77,346,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in RB Global by 0.5% in the third quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider's stock valued at $2,744,455,000 after purchasing an additional 124,926 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of RB Global by 1.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider's stock worth $1,120,479,000 after acquiring an additional 165,260 shares in the last quarter. State Street Corp increased its position in shares of RB Global by 1.7% during the fourth quarter. State Street Corp now owns 6,290,640 shares of the business services provider's stock worth $647,118,000 after acquiring an additional 104,286 shares in the last quarter. Geode Capital Management LLC increased its position in shares of RB Global by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider's stock worth $513,930,000 after acquiring an additional 250,887 shares in the last quarter. Finally, Fiera Capital Corp increased its position in shares of RB Global by 2.2% during the fourth quarter. Fiera Capital Corp now owns 4,157,985 shares of the business services provider's stock worth $428,223,000 after acquiring an additional 90,982 shares in the last quarter. Institutional investors own 95.37% of the company's stock.

Insider Transactions at RB Global

In other news, Director Deborah Stein bought 425 shares of the business's stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the purchase, the director owned 1,825 shares of the company's stock, valued at approximately $188,248.75. This trade represents a 30.36% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RBA. Barclays began coverage on shares of RB Global in a research report on Thursday, May 28th. They set an "overweight" rating and a $124.00 price objective for the company. Royal Bank Of Canada increased their price objective on shares of RB Global from $146.00 to $150.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Weiss Ratings reissued a "buy (b-)" rating on shares of RB Global in a research report on Tuesday, May 26th. Stephens reissued an "equal weight" rating and set a $96.00 price objective on shares of RB Global in a research report on Tuesday, May 5th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.13.

RB Global Stock Up 0.3%

RB Global stock opened at $110.77 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. The company's 50-day moving average is $104.28 and its 200-day moving average is $104.57. The firm has a market capitalization of $20.60 billion, a PE ratio of 51.52, a P/E/G ratio of 1.76 and a beta of 0.57. RB Global, Inc. has a fifty-two week low of $93.58 and a fifty-two week high of $119.58.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted $0.89 EPS. RB Global's revenue was up 11.4% on a year-over-year basis. Sell-side analysts anticipate that RB Global, Inc. will post 4.09 earnings per share for the current year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Wednesday, May 27th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, May 27th. RB Global's dividend payout ratio (DPR) is 57.67%.

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.

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