Tobam Reduces Position in RB Global, Inc. (NYSE:RBA)

Tobam lowered its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 98.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 820 shares of the business services provider's stock after selling 40,625 shares during the quarter. Tobam's holdings in RB Global were worth $82,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MV Capital Management Inc. increased its stake in 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 period. GAMMA Investing LLC increased its stake 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 worth $161,000 after buying an additional 358 shares during the period. UMB Bank n.a. increased its stake in RB Global by 121.1% in the 1st quarter. UMB Bank n.a. now owns 2,074 shares of the business services provider's stock worth $208,000 after buying an additional 1,136 shares during the period. Versant Capital Management Inc increased its stake in RB Global by 476.7% in the 1st quarter. Versant Capital Management Inc now owns 1,759 shares of the business services provider's stock worth $176,000 after buying an additional 1,454 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in RB Global by 18.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,883 shares of the business services provider's stock worth $441,000 after buying an additional 752 shares during the period. Hedge funds and other institutional investors own 95.37% of the company's stock.

RB Global Stock Performance

RBA stock traded down $0.94 during trading on Friday, reaching $106.39. The company had a trading volume of 817,155 shares, compared to its average volume of 1,098,080. The firm has a 50-day simple moving average of $102.47 and a 200-day simple moving average of $97.53. The company has a market cap of $19.70 billion, a price-to-earnings ratio of 52.93, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. RB Global, Inc. has a twelve month low of $70.38 and a twelve month high of $109.25.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 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 business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the previous year, the business posted $0.90 EPS. The business's quarterly revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global's dividend payout ratio is currently 57.14%.

Insider Activity at RB Global

In related news, Director Adam Dewitt sold 800 shares of the business's stock in a transaction 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 completion of the transaction, the director now directly owns 5,865 shares in the company, valued at $622,687.05. The trade was a 12.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO James J. Jeter sold 2,000 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $106.96, for a total transaction of $213,920.00. Following the completion of the transaction, the executive now owns 14,167 shares of the company's stock, valued at approximately $1,515,302.32. This represents a 12.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,972 shares of company stock worth $4,345,510 in the last three months. Company insiders own 4.32% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. BMO Capital Markets raised their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. National Bank Financial downgraded 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 increased their price objective 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. Raymond James increased their price objective 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. Finally, Robert W. Baird increased their price objective 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, RB Global has an average rating of "Moderate Buy" and a consensus price target 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.