BNP Paribas Financial Markets Invests $1.58 Million in RB Global, Inc. (NYSE:RBA)

BNP Paribas Financial Markets purchased a new stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 17,494 shares of the business services provider's stock, valued at approximately $1,578,000.

Several other institutional investors and hedge funds also recently bought and sold shares of RBA. Raymond James Financial Inc. bought a new position in RB Global in the fourth quarter valued at $266,148,000. Norges Bank purchased a new position in RB Global in the 4th quarter worth $209,931,000. FMR LLC lifted its stake in RB Global by 137.5% in the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider's stock worth $252,985,000 after purchasing an additional 1,623,429 shares during the last quarter. Vontobel Holding Ltd. boosted its position in RB Global by 9.8% during the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock valued at $762,378,000 after buying an additional 753,700 shares during the period. Finally, FIL Ltd boosted its position in RB Global by 26.4% during the fourth quarter. FIL Ltd now owns 2,030,696 shares of the business services provider's stock valued at $183,189,000 after buying an additional 424,060 shares during the period. 95.37% of the stock is owned by institutional investors.

RB Global Stock Down 0.7%

RBA traded down $0.71 during midday trading on Friday, reaching $107.83. The company's stock had a trading volume of 572,422 shares, compared to its average volume of 1,116,267. RB Global, Inc. has a 1 year low of $70.27 and a 1 year high of $109.25. The stock's 50-day moving average is $99.91 and its 200-day moving average is $96.13. The firm has a market capitalization of $19.96 billion, a price-to-earnings ratio of 53.61, a PEG ratio of 4.95 and a beta of 0.78. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, hitting analysts' consensus estimates of $0.89. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the previous year, the firm posted $0.90 EPS. The business's revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.29 per share. The ex-dividend date is Thursday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.08%. RB Global's payout ratio is presently 57.14%.

Insider Buying and Selling

In related news, CEO James Francis Kessler sold 15,700 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares in the company, valued at $10,521,323.89. The trade was a 12.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO James J. Jeter sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $106.96, for a total value of $213,920.00. Following the completion of the transaction, the executive now directly owns 14,167 shares in the company, valued at $1,515,302.32. This trade represents a 12.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,472 shares of company stock worth $3,867,745 in the last quarter. Corporate insiders own 4.32% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on RBA. CIBC lifted their target price on shares of RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research note on Friday, May 9th. Wall Street Zen upgraded shares of RB Global from a "hold" rating to a "buy" rating in a research report on Tuesday. 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. Raymond James boosted their price target on RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, BMO Capital Markets increased their price objective on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $114.50.

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.