D. E. Shaw & Co. Inc. Buys 13,158 Shares of RB Global, Inc. (NYSE:RBA)

D. E. Shaw & Co. Inc. lifted its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 190.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,058 shares of the business services provider's stock after purchasing an additional 13,158 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in RB Global were worth $1,809,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in RB Global in the 4th quarter valued at approximately $266,148,000. Norges Bank bought a new stake in shares of RB Global in the 4th quarter valued at about $209,931,000. FMR LLC increased its stake in shares of RB Global by 137.5% in the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider's stock valued at $252,985,000 after buying an additional 1,623,429 shares during the period. Vontobel Holding Ltd. increased its stake in shares of RB Global by 9.8% in 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 raised its position in shares of RB Global by 26.4% during the fourth quarter. FIL Ltd now owns 2,030,696 shares of the business services provider's stock worth $183,189,000 after acquiring an additional 424,060 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Price Performance

RBA stock traded down $2.50 during mid-day trading on Tuesday, reaching $104.68. 2,089,999 shares of the company traded hands, compared to its average volume of 1,126,484. The company has a fifty day moving average price of $100.39 and a 200-day moving average price of $96.54. RB Global, Inc. has a 52-week low of $70.27 and a 52-week high of $109.25. The company has a market capitalization of $19.38 billion, a P/E ratio of 52.08, a P/E/G ratio of 4.95 and a beta of 0.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, meeting analysts' consensus estimates of $0.89. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. RB Global's revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $0.90 earnings per share. As a group, analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The company 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 $0.29 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.11%. RB Global's payout ratio is currently 57.14%.

Insider Buying and Selling

In other news, CEO James Francis Kessler sold 15,700 shares of the business's stock in a transaction dated Monday, March 17th. The stock was 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 of the company's stock, valued at approximately $10,521,323.89. The trade was a 12.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 600 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $98.63, for a total transaction of $59,178.00. Following the completion of the transaction, the executive now owns 19,667 shares in the company, valued at approximately $1,939,756.21. This trade represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,472 shares of company stock worth $3,867,745. Corporate insiders own 4.32% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RBA. National Bankshares lowered their target price 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. Royal Bank of Canada boosted their price target on shares of RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. 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 research note on Wednesday, February 19th. Robert W. Baird increased their target price on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, CIBC lifted their price target on RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a report on Friday, May 9th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, RB Global presently has an average rating of "Moderate Buy" and a consensus target price 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.