RB Global, Inc. (NYSE:RBA) Shares Sold by Royal Bank of Canada

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

Several other hedge funds have also recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in RB Global by 0.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider's stock worth $3,674,000 after buying an additional 113 shares during the period. CoreCap Advisors LLC boosted its position in RB Global by 74.5% in 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 in the last quarter. Jones Financial Companies Lllp boosted its position in RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after purchasing an additional 129 shares in the last quarter. Summit Trail Advisors LLC boosted its position in RB Global by 4.6% in the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider's stock worth $279,000 after purchasing an additional 137 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in RB Global by 25.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider's stock worth $64,000 after purchasing an additional 143 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

RB Global Price Performance

Shares of NYSE:RBA traded down $1.30 during midday trading on Friday, reaching $107.24. 982,874 shares of the company's stock traded hands, compared to its average volume of 1,122,614. RB Global, Inc. has a 1 year low of $70.27 and a 1 year high of $109.25. The company has a market cap of $19.86 billion, a P/E ratio of 53.35, a PEG 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. The company has a fifty day simple moving average of $100.11 and a two-hundred day simple moving average of $96.33.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted $0.90 EPS. The business's revenue was up 4.1% on a year-over-year basis. Equities analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.08%. RB Global's dividend payout ratio (DPR) is 57.14%.

Analyst Ratings Changes

Several research firms have commented on RBA. Raymond James upped 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. Royal Bank of Canada upped their price objective on RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. National Bankshares lowered their price objective on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Robert W. Baird upped their price objective on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, CIBC upped their price objective on RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $114.50.

Insider Buying and Selling at RB Global

In other RB Global news, insider Andrew John Fesler sold 9,075 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total value of $950,334.00. Following the transaction, the insider now owns 5,532 shares in the company, valued at approximately $579,311.04. This trade represents a 62.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the firm's stock in a transaction on Monday, March 17th. The shares were 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 in the company, valued at $10,521,323.89. The trade was a 12.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,472 shares of company stock worth $3,867,745. Corporate 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.