RB Global, Inc. (NYSE:RBA) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden has reduced its stake in RB Global, Inc. by 7.5%, now holding 39,300 shares valued at approximately $3.94 million as of the end of the last quarter.
• RB Global recently reported a quarterly earnings of $1.07 per share, exceeding expectations and reflecting a revenue of $1.20 billion, marking an 8.2% increase year-over-year.
• The company has declared an increase in its quarterly dividend to $0.31 per share, up from $0.29, with a dividend yield of 1.1% scheduled for payment on September 18th.

Forsta AP Fonden decreased its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 7.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,300 shares of the business services provider's stock after selling 3,200 shares during the quarter. Forsta AP Fonden's holdings in RB Global were worth $3,944,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. increased its position in RB Global by 122.2% in the 1st quarter. QRG Capital Management Inc. now owns 7,678 shares of the business services provider's stock valued at $770,000 after buying an additional 4,222 shares in the last quarter. MetLife Investment Management LLC increased its position in RB Global by 9.2% in the 4th quarter. MetLife Investment Management LLC now owns 103,934 shares of the business services provider's stock valued at $9,376,000 after buying an additional 8,723 shares in the last quarter. GAMMA Investing LLC increased its position in RB Global by 28.6% in the 1st quarter. GAMMA Investing LLC now owns 1,608 shares of the business services provider's stock valued at $161,000 after buying an additional 358 shares in the last quarter. Mariner LLC increased its position in RB Global by 32.4% in the 4th quarter. Mariner LLC now owns 48,124 shares of the business services provider's stock valued at $4,341,000 after buying an additional 11,767 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in RB Global by 10.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock valued at $106,000 after buying an additional 104 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. National Bankshares boosted their price objective on RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Robert W. Baird boosted their price objective on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Wall Street Zen raised RB Global from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. BMO Capital Markets boosted their price objective on RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, Royal Bank Of Canada boosted their price objective on RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $119.79.

Insider Transactions at RB Global

In other news, Director Adam Dewitt sold 800 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total value of $84,936.00. Following the transaction, the director directly owned 5,865 shares in the company, valued at approximately $622,687.05. This represents a 12.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Darren Jeffrey Watt sold 7,400 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $814,000.00. Following the completion of the transaction, the insider owned 24,874 shares in the company, valued at approximately $2,736,140. This represents 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 have sold 57,558 shares of company stock worth $6,314,145. 4.32% of the stock is currently owned by insiders.

RB Global Stock Performance

NYSE RBA traded down $2.68 on Friday, reaching $114.75. 546,419 shares of the company's stock traded hands, compared to its average volume of 1,090,072. The firm has a market cap of $21.29 billion, a price-to-earnings ratio of 56.86, a P/E/G ratio of 2.74 and a beta of 0.75. The stock has a 50 day moving average price of $108.11 and a 200-day moving average price of $102.34. RB Global, Inc. has a fifty-two week low of $78.08 and a fifty-two week high of $118.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.12. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations 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 company earned $0.94 EPS. Equities research analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th will be issued a $0.31 dividend. The ex-dividend date is Thursday, August 28th. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. This is an increase from RB Global's previous quarterly dividend of $0.29. RB Global's dividend payout ratio (DPR) is currently 57.43%.

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.