BNP Paribas Financial Markets Makes New Investment in RB Global, Inc. (NYSE:RBA)

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted 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 valued at $35,000 after purchasing an additional 129 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in RB Global in the fourth quarter valued at approximately $36,000. Whipplewood Advisors LLC acquired a new position in shares of RB Global during the fourth quarter worth $37,000. Geneos Wealth Management Inc. purchased a new position in RB Global during the 4th quarter worth $40,000. Finally, SRS Capital Advisors Inc. boosted its holdings in RB Global by 163.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider's stock worth $58,000 after acquiring an additional 400 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Performance

Shares of RBA traded down $1.30 during mid-day trading on Friday, reaching $107.24. The company had a trading volume of 982,874 shares, compared to its average volume of 1,122,614. The stock has a 50 day moving average of $100.11 and a two-hundred day moving average of $96.33. The stock has a market capitalization of $19.86 billion, a P/E ratio of 53.35, a PEG ratio of 4.95 and a beta of 0.78. RB Global, Inc. has a 52-week low of $70.27 and a 52-week high of $109.25. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50.

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 for the quarter, hitting analysts' consensus estimates of $0.89. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The company's revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.08%. RB Global's dividend payout ratio (DPR) is currently 57.14%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada boosted their price target on RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. CIBC lifted their price objective 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 note on Tuesday. National Bankshares lowered their price objective on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, BMO Capital Markets lifted their price objective on shares of RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $114.50.

Insiders Place Their Bets

In related news, insider Andrew John Fesler sold 9,075 shares of the company's 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 completion of the sale, the insider now owns 5,532 shares of the company's stock, valued at approximately $579,311.04. This represents a 62.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now owns 107,569 shares in the company, valued at $10,521,323.89. The trade was a 12.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,472 shares of company stock worth $3,867,745. Company insiders own 4.32% of the company's stock.

RB Global 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.