RB Global, Inc. $RBA Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its holdings in RB Global, Inc. by 3.1%, selling 43,976 shares and now holding 1,355,425 shares valued at approximately $135.9 million.
• RB Global recently reported quarterly earnings of $1.07 per share, exceeding analyst expectations of $0.95, and had revenue of $1.20 billion for the quarter, an 8.2% increase year-over-year.
• The company has declared a quarterly dividend of $0.31, which represents a slight increase from the previous dividend of $0.29, and will be paid to investors of record on August 28th.

Northern Trust Corp reduced its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 3.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,355,425 shares of the business services provider's stock after selling 43,976 shares during the quarter. Northern Trust Corp owned approximately 0.73% of RB Global worth $135,949,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of RBA. CoreCap Advisors LLC lifted its position 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 buying an additional 117 shares during the last quarter. SouthState Corp bought a new position in shares of RB Global in the 1st quarter worth about $26,000. MV Capital Management Inc. lifted 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 buying an additional 278 shares during the last quarter. IFP Advisors Inc lifted its position in shares of RB Global by 348.8% in the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock worth $36,000 after buying an additional 279 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of RB Global by 10.9% during the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock worth $106,000 after acquiring an additional 104 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling at RB Global

In other RB Global news, CEO James Francis Kessler sold 45,658 shares of the company'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 $5,022,380.00. Following the completion of the sale, the chief executive officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Darren Jeffrey Watt sold 7,400 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $814,000.00. Following the completion of the sale, the insider directly owned 24,874 shares of the company's stock, valued at $2,736,140. The trade was a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 57,558 shares of company stock valued at $6,314,145. 0.28% of the stock is owned by insiders.

RB Global Price Performance

RBA traded up $0.08 on Wednesday, reaching $115.86. The company had a trading volume of 234,787 shares, compared to its average volume of 1,071,837. The company has a fifty day moving average of $109.56 and a 200-day moving average of $103.83. The company has a market capitalization of $21.50 billion, a P/E ratio of 57.38, a PEG ratio of 2.68 and a beta of 0.75. 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, Inc. has a one year low of $78.08 and a one year high of $118.23.

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

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 28th. This is a positive change from RB Global's previous quarterly dividend of $0.29. RB Global's dividend payout ratio is currently 61.39%.

Wall Street Analyst Weigh In

Several research firms have recently commented on RBA. BMO Capital Markets upped their price target on shares of RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Royal Bank Of Canada upped their price target on shares of RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. National Bankshares upped their price target on shares of RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Finally, Robert W. Baird upped their price target on shares of RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, RB Global has a consensus rating of "Moderate Buy" and a consensus target price of $124.33.

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.