Nuveen Asset Management LLC Lowers Stake in RB Global, Inc. (NYSE:RBA)

Nuveen Asset Management LLC cut its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 595,689 shares of the business services provider's stock after selling 20,604 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.32% of RB Global worth $53,737,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RBA. CoreCap Advisors LLC lifted its position in RB Global by 74.5% during 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 in the last quarter. Jones Financial Companies Lllp raised its holdings 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 valued at $35,000 after purchasing an additional 129 shares during the period. Proficio Capital Partners LLC acquired a new position in RB Global in the 4th quarter valued at about $36,000. Whipplewood Advisors LLC acquired a new position in RB Global in the 4th quarter valued at about $37,000. Finally, Geneos Wealth Management Inc. acquired a new position in RB Global in the 4th quarter valued at about $40,000. 95.37% of the stock is owned by institutional investors.

RB Global Price Performance

RB Global stock traded down $1.30 during mid-day trading on Friday, reaching $107.24. The company had a trading volume of 982,874 shares, compared to its average volume of 1,122,614. RB Global, Inc. has a fifty-two week low of $70.27 and a fifty-two 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 company has a market cap of $19.86 billion, a P/E ratio of 53.35, a P/E/G ratio of 4.95 and a beta of 0.78. The business has a fifty day simple moving average of $100.11 and a 200 day simple moving average of $96.33.

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 (EPS) for the quarter, meeting the consensus estimate 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 last year, the firm earned $0.90 earnings per share. The company's revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities research analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Thursday, May 29th. RB Global's payout ratio is 57.14%.

Insiders Place Their Bets

In other RB Global news, CRO James J. Jeter sold 600 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $98.63, for a total value of $59,178.00. Following the sale, the executive now directly owns 19,667 shares in the company, valued at $1,939,756.21. This represents a 2.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew John Fesler sold 9,075 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total transaction of $950,334.00. Following the transaction, the insider now directly owns 5,532 shares in the company, valued at approximately $579,311.04. This represents a 62.13% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,472 shares of company stock valued at $3,867,745. Corporate insiders own 4.32% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RBA. Robert W. Baird upped their price target on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. BMO Capital Markets upped their price target on shares of RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Raymond James upped their price target on shares of RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Royal Bank of Canada upped 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. Finally, National Bankshares lowered their target price on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, RB Global has an average rating of "Moderate Buy" and an average target price of $114.50.

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.