Focus Partners Wealth Purchases Shares of 2,806 RB Global, Inc. (NYSE:RBA)

Focus Partners Wealth bought a new position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,806 shares of the business services provider's stock, valued at approximately $253,000.

A number of other large investors also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in RB Global during the 4th quarter worth $266,148,000. Norges Bank bought a new position in RB Global in the fourth quarter valued at about $209,931,000. FMR LLC increased its position in RB Global by 137.5% in the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider's stock worth $252,985,000 after purchasing an additional 1,623,429 shares during the period. Vontobel Holding Ltd. raised its holdings in RB Global by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock worth $762,378,000 after purchasing an additional 753,700 shares during the last quarter. Finally, FIL Ltd lifted its position in RB Global by 26.4% during the 4th quarter. FIL Ltd now owns 2,030,696 shares of the business services provider's stock valued at $183,189,000 after purchasing an additional 424,060 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at RB Global

In related news, CRO James J. Jeter sold 7,597 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.85, for a total value of $743,366.45. Following the completion of the transaction, the executive now owns 20,267 shares of the company's stock, valued at approximately $1,983,125.95. This trade represents a 27.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew John Fesler sold 9,075 shares of the firm'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 completion of the transaction, the insider now owns 5,532 shares of the company's stock, valued at $579,311.04. The trade was a 62.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,472 shares of company stock valued at $3,867,745. 4.32% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. CIBC increased their price target on RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a research note on Friday, May 9th. Royal Bank of Canada increased their price target on shares of RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. National Bankshares decreased their price objective on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. BMO Capital Markets increased their target price on shares of RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.50.

RB Global Stock Down 0.5%

Shares of RBA stock traded down $0.48 during trading hours on Wednesday, hitting $104.26. 94,086 shares of the company were exchanged, compared to its average volume of 1,122,421. RB Global, Inc. has a 52 week low of $70.27 and a 52 week high of $109.25. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average of $100.39 and a two-hundred day moving average of $96.54. The company has a market capitalization of $19.30 billion, a PE ratio of 51.87, a PEG ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its 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. 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 analyst estimates of $1.02 billion. During the same period in the prior year, the business earned $0.90 EPS. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. Analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be issued a dividend of $0.29 per share. 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 1.11%. RB Global's payout ratio is presently 57.14%.

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.