RB Global, Inc. (NYSE:RBA) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 8.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 356,275 shares of the business services provider's stock after selling 32,848 shares during the period. Envestnet Asset Management Inc. owned 0.19% of RB Global worth $35,734,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RBA. CoreCap Advisors LLC grew 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 worth $25,000 after acquiring an additional 117 shares during the period. MV Capital Management Inc. increased its position in RB Global by 5,560.0% during the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock worth $28,000 after buying an additional 278 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after acquiring an additional 129 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of RB Global in the fourth quarter valued at $59,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of RB Global in the fourth quarter valued at $111,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Insiders Place Their Bets

In other 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 value of $950,334.00. Following the sale, the insider owned 5,532 shares in the company, valued at approximately $579,311.04. This represents a 62.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the executive owned 14,167 shares in the company, valued at $1,515,302.32. The trade was a 12.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,075 shares of company stock valued at $2,007,349 over the last ninety days. Insiders own 0.28% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on RBA shares. Royal Bank Of Canada set a $125.00 target price on shares of RB Global and gave the company an "outperform" rating in a report on Wednesday, July 2nd. 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. Robert W. Baird increased their price target on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. National Bank Financial downgraded RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Finally, Raymond James Financial increased their target price on RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Three investment 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 a consensus rating of "Moderate Buy" and an average price target of $115.79.

RB Global Stock Down 1.7%

Shares of RBA traded down $1.85 during midday trading on Tuesday, reaching $107.81. 1,030,311 shares of the company were exchanged, compared to its average volume of 959,609. RB Global, Inc. has a 1-year low of $70.38 and a 1-year high of $111.07. The stock has a 50-day moving average price of $106.00 and a 200-day moving average price of $99.28. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.50. The company has a market cap of $19.97 billion, a price-to-earnings ratio of 53.11, a P/E/G ratio of 2.51 and a beta of 0.77.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings results 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 firm had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.02 billion. RB Global had a return on equity of 8.03% and a net margin of 9.68%. RB Global's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. Research 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 was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were given a $0.29 dividend. The ex-dividend date was Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.08%. RB Global's payout ratio is currently 57.14%.

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.