Avanza Fonder AB Sells 4,600 Shares of RB Global, Inc. (NYSE:RBA)

Avanza Fonder AB trimmed its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 33.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,075 shares of the business services provider's stock after selling 4,600 shares during the period. Avanza Fonder AB's holdings in RB Global were worth $910,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Stephens Inc. AR lifted its stake in shares of RB Global by 26.6% in the fourth quarter. Stephens Inc. AR now owns 4,097 shares of the business services provider's stock valued at $370,000 after buying an additional 860 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of RB Global by 4.6% in the fourth quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider's stock valued at $279,000 after buying an additional 137 shares during the period. Values First Advisors Inc. bought a new stake in shares of RB Global in the fourth quarter valued at about $582,000. Fiera Capital Corp lifted its stake in shares of RB Global by 4.1% in the fourth quarter. Fiera Capital Corp now owns 3,216,507 shares of the business services provider's stock valued at $290,000,000 after buying an additional 125,275 shares during the period. Finally, Vontobel Holding Ltd. lifted its stake in shares of RB Global by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock valued at $762,378,000 after buying an additional 753,700 shares during the period. 95.37% of the stock is currently owned by institutional investors.

RB Global Price Performance

Shares of NYSE RBA traded down $0.94 during mid-day trading on Friday, hitting $106.39. 817,155 shares of the stock were exchanged, compared to its average volume of 1,098,080. The company has a market cap of $19.70 billion, a P/E ratio of 52.93, a PEG ratio of 4.95 and a beta of 0.78. The stock's fifty day simple moving average is $102.47 and its two-hundred day simple moving average is $97.52. 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 posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The company's revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.90 earnings per share. As a group, analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders 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 dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global's payout ratio is 57.14%.

Analyst Upgrades and Downgrades

RBA has been the subject of several research reports. National Bankshares reduced their target price on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Raymond James increased their price target on shares of 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 lowered shares of RB Global from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Royal Bank of Canada increased 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. Finally, Robert W. Baird increased their price target on shares of RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, RB Global has an average rating of "Moderate Buy" and an average target price of $114.50.

Insider Transactions at RB Global

In related news, CRO James J. Jeter sold 600 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $98.63, for a total value of $59,178.00. Following the completion of the sale, the executive now owns 19,667 shares of the company's stock, valued at $1,939,756.21. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the sale, the chief executive officer now directly 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. Over the last 90 days, insiders sold 42,972 shares of company stock valued at $4,345,510. 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.