Citigroup Inc. Sells 78,123 Shares of RB Global, Inc. (NYSE:RBA)

Key Points

• Citigroup Inc. has reduced its stake in RB Global, Inc. by 25% in the first quarter, selling 78,123 shares and now owning approximately 0.13% of the company, valued at $23.48 million.
• RB Global recently announced a quarterly dividend increase from $0.29 to $0.31 per share, with a dividend yield of 1.1% and a payout ratio of 57.43%.
• Analysts have mixed opinions on RB Global, with recent reports showing price targets ranging from $115.00 to $130.00 and ratings varying from "hold" to "outperform".

Citigroup Inc. decreased its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 25.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 233,977 shares of the business services provider's stock after selling 78,123 shares during the period. Citigroup Inc. owned about 0.13% of RB Global worth $23,480,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Securian Asset Management Inc. boosted its holdings in shares of RB Global by 0.7% in the 1st quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider's stock valued at $1,408,000 after buying an additional 100 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of RB Global by 10.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock valued at $106,000 after buying an additional 104 shares during the period. Wealth Alliance LLC boosted its holdings in shares of RB Global by 2.7% in the 1st quarter. Wealth Alliance LLC now owns 3,976 shares of the business services provider's stock valued at $399,000 after buying an additional 104 shares during the period. CoreCap Advisors LLC boosted its holdings in shares of RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after buying an additional 117 shares during the period. Finally, Fullcircle Wealth LLC boosted its holdings in shares of RB Global by 5.5% in the 1st quarter. Fullcircle Wealth LLC now owns 2,382 shares of the business services provider's stock valued at $235,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 95.37% of the company's stock.

Insider Buying and Selling at RB Global

In other RB Global news, insider Darren Jeffrey Watt sold 7,400 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $814,000.00. Following the completion of the sale, the insider owned 24,874 shares in the company, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 45,658 shares of RB Global stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the sale, the chief executive officer owned 107,569 shares of the company's stock, valued at approximately $11,832,590. This represents a 29.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,558 shares of company stock worth $6,314,145. 4.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. National Bankshares boosted their target price on shares of RB Global from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Royal Bank Of Canada boosted their price target on shares of RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen upgraded shares of RB Global from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Robert W. Baird increased their price target on shares of RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $119.79.

RB Global Price Performance

RBA stock traded down $2.30 during trading on Friday, hitting $115.13. 1,221,840 shares of the stock traded hands, compared to its average volume of 1,055,790. RB Global, Inc. has a one year low of $78.08 and a one year high of $118.23. The stock has a market cap of $21.36 billion, a price-to-earnings ratio of 57.00, a P/E/G ratio of 2.66 and a beta of 0.75. The company has a 50 day simple moving average of $108.31 and a 200 day simple moving average of $102.60. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.12. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $0.94 EPS. Equities analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.1%. The ex-dividend date is Thursday, August 28th. This is a boost from RB Global's previous quarterly dividend of $0.29. RB Global's dividend payout ratio is 57.43%.

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.