RB Global, Inc. (NYSE:RBA) Position Reduced by Royal Bank of Canada

Royal Bank of Canada decreased its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,363,409 shares of the business services provider's stock after selling 52,987 shares during the period. Royal Bank of Canada owned 0.74% of RB Global worth $122,994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Natixis Advisors LLC lifted its stake in RB Global by 69.5% in the fourth quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider's stock valued at $1,703,000 after buying an additional 7,737 shares during the last quarter. Mawer Investment Management Ltd. grew its position in shares of RB Global by 15.7% during the fourth quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider's stock worth $10,876,000 after acquiring an additional 16,397 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of RB Global by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock worth $2,248,060,000 after acquiring an additional 358,752 shares during the period. MetLife Investment Management LLC lifted 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 purchasing an additional 8,723 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in RB Global by 16.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 100,318 shares of the business services provider's stock valued at $9,050,000 after purchasing an additional 13,836 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on RBA shares. BMO Capital Markets upped their target price on shares of RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Raymond James boosted their price objective on RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Wall Street Zen upgraded RB Global from a "hold" rating to a "buy" rating in a research report on Tuesday. National Bankshares cut their target price on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Robert W. Baird boosted their price target on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $114.50.

RB Global Price Performance

Shares of RB Global stock traded down $0.74 on Friday, hitting $107.81. The company had a trading volume of 650,981 shares, compared to its average volume of 1,116,662. RB Global, Inc. has a 52 week low of $70.27 and a 52 week high of $109.25. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The company has a market cap of $19.96 billion, a PE ratio of 53.67, a PEG ratio of 4.95 and a beta of 0.78. The business has a 50-day simple moving average of $99.91 and a 200-day simple moving average of $96.13.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, hitting analysts' consensus estimates of $0.89. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal 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 issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global's payout ratio is currently 57.14%.

Insider Buying and Selling

In other news, CRO James J. Jeter sold 2,000 shares of RB Global stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $106.96, for a total value of $213,920.00. Following the transaction, the executive now owns 14,167 shares of the company's stock, valued at $1,515,302.32. The trade was a 12.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Andrew John Fesler sold 9,075 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 5,532 shares of the company's stock, valued at approximately $579,311.04. This represents a 62.13% decrease in their ownership of the stock. 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 over the last three months. Company insiders own 4.32% of the company's stock.

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.