CX Institutional Sells 5,351 Shares of RB Global, Inc. (NYSE:RBA)

CX Institutional lessened its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 31.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,781 shares of the business services provider's stock after selling 5,351 shares during the period. CX Institutional's holdings in RB Global were worth $1,182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RBA. CoreCap Advisors LLC boosted its stake in RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after acquiring an additional 117 shares in the last quarter. MV Capital Management Inc. boosted its position in shares of RB Global by 5,560.0% in the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock worth $28,000 after purchasing an additional 278 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of RB Global by 49.4% in the 4th 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. Whipplewood Advisors LLC purchased a new stake in shares of RB Global in the 4th quarter worth approximately $37,000. Finally, SRS Capital Advisors Inc. increased its position in RB Global by 163.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider's stock valued at $58,000 after buying an additional 400 shares in the last quarter. Institutional investors own 95.37% of the company's stock.

RB Global Stock Performance

Shares of RBA stock traded down $0.94 on Friday, reaching $106.39. The stock had a trading volume of 817,155 shares, compared to its average volume of 1,101,167. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. RB Global, Inc. has a 1 year low of $70.38 and a 1 year high of $109.25. The stock has a market cap of $19.70 billion, a P/E ratio of 52.93, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78. The company has a 50 day simple moving average of $102.13 and a 200 day simple moving average of $97.47.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.89. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global's dividend payout ratio is currently 57.14%.

Analysts Set New Price Targets

RBA has been the subject of several recent analyst reports. Robert W. Baird lifted 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. Wall Street Zen cut RB Global from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. National Bankshares cut their target price on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. National Bank Financial cut RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Finally, CIBC upped their price target on RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $114.50.

Insiders Place Their Bets

In other news, insider Darren Jeffrey Watt sold 3,700 shares of RB Global stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $392,829.00. Following the sale, the insider now owns 24,874 shares in the company, valued at $2,640,872.58. This trade represents a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the sale, the chief executive officer now directly owns 107,569 shares in the company, valued at $10,521,323.89. This trade represents a 12.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,972 shares of company stock worth $4,345,510 over the last three months. 4.32% of the stock is currently owned by company insiders.

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.