RB Global, Inc. (NYSE:RBA) Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. decreased its stake in RB Global, Inc. by 4.1% in Q1, owning 2,830,267 shares valued at approximately $283.9 million.
• RB Global recently declared a quarterly dividend increase from $0.29 to $0.31 per share, set to be paid on September 18th, representing an annualized yield of 1.1%.
• Analysts have a consensus rating of "Moderate Buy" for RB Global, with a target price averaging $119.79 following several price target adjustments from major brokerages.

Raymond James Financial Inc. lowered its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 4.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,830,267 shares of the business services provider's stock after selling 120,045 shares during the period. Raymond James Financial Inc. owned about 1.53% of RB Global worth $283,876,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. SouthState Corp acquired a new position in shares of RB Global in the first quarter worth about $26,000. CoreCap Advisors LLC raised its position in shares of 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 purchasing an additional 117 shares during the last quarter. MV Capital Management Inc. raised its position in shares of RB Global by 5,560.0% during the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock worth $28,000 after purchasing an additional 278 shares during the last quarter. IFP Advisors Inc lifted its stake in RB Global by 348.8% in the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock valued at $36,000 after buying an additional 279 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RBA. Robert W. Baird raised 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. National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. National Bankshares raised their price target on shares of RB Global from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. CIBC raised their price target on shares of RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research note on Friday, July 18th. Finally, BMO Capital Markets raised their price target on shares of RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, RB Global currently has an average rating of "Moderate Buy" and an average target price of $119.79.

RB Global Stock Down 2.0%

RBA stock opened at $115.13 on Friday. The company has a market cap of $21.36 billion, a price-to-earnings ratio of 57.00, a PEG ratio of 2.66 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 12 month low of $78.08 and a 12 month high of $118.23. The firm has a 50-day moving average of $108.31 and a two-hundred day moving average of $102.60.

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

RB Global Increases Dividend

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

Insider Transactions at RB Global

In other news, insider Darren Jeffrey Watt sold 7,400 shares of the firm's stock in a transaction that occurred on 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 owned 24,874 shares in the company, valued at $2,736,140. This trade represents a 22.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Adam Dewitt sold 800 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total transaction of $84,936.00. Following the sale, the director owned 5,865 shares of the company's stock, valued at $622,687.05. This represents a 12.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 57,558 shares of company stock worth $6,314,145 in the last 90 days. Insiders own 4.32% of the company's stock.

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.

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