Toronto Dominion Bank Decreases Stock Position in RB Global, Inc. (NYSE:RBA)

Toronto Dominion Bank trimmed its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 29.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,305 shares of the business services provider's stock after selling 47,710 shares during the period. Toronto Dominion Bank owned 0.06% of RB Global worth $10,307,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in RB Global by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock valued at $2,248,060,000 after purchasing an additional 358,752 shares during the period. Vontobel Holding Ltd. grew its stake in shares of RB Global by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock valued at $762,378,000 after acquiring an additional 753,700 shares during the period. Geode Capital Management LLC increased its holdings in RB Global by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider's stock worth $357,434,000 after acquiring an additional 264,778 shares in the last quarter. Janus Henderson Group PLC increased its holdings in RB Global by 0.6% in the 4th quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider's stock worth $307,033,000 after acquiring an additional 19,895 shares in the last quarter. Finally, Boston Partners raised its stake in RB Global by 6.9% during the 4th quarter. Boston Partners now owns 3,308,977 shares of the business services provider's stock worth $298,500,000 after acquiring an additional 214,181 shares during the period. 95.37% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CRO James J. Jeter sold 2,000 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $106.96, for a total value 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 trade represents a 12.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the transaction, the chief executive officer now owns 107,569 shares of the company's stock, valued at approximately $10,521,323.89. This represents a 12.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,472 shares of company stock valued at $3,867,745 in the last quarter. 4.32% of the stock is currently owned by insiders.

RB Global Price Performance

RBA traded down $1.30 during trading on Friday, hitting $107.24. 982,874 shares of the company traded hands, compared to its average volume of 1,120,409. 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 PE ratio of 53.35, a P/E/G ratio of 4.95 and a beta of 0.78. The stock's 50-day simple moving average is $100.11 and its two-hundred day simple moving average is $96.28. RB Global, Inc. has a 1 year low of $70.27 and a 1 year high of $109.25.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released 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 the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The business's revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank of Canada upped their price target on shares of RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Raymond James lifted their target price 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. Robert W. Baird increased their price target on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. BMO Capital Markets raised their price target on RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, Wall Street Zen upgraded RB Global from a "hold" rating to a "buy" rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $114.50.

About RB Global

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.