RB Global, Inc. (NYSE:RBA) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in RB Global, Inc. by 3.7%, selling 19,317 shares during the first quarter and holding 507,253 shares worth approximately $50.9 million.
• RB Global announced a quarterly dividend of $0.29, yielding 1.07%, with a payout ratio currently at 57.14%.
• Wall Street analysts show mixed sentiment towards RB Global, with ratings ranging from "strong-buy" to "hold," and a consensus price target of $116.21 for the stock.

TD Asset Management Inc cut its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 3.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 507,253 shares of the business services provider's stock after selling 19,317 shares during the period. TD Asset Management Inc owned approximately 0.27% of RB Global worth $50,903,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Securian Asset Management Inc. lifted its position in shares of RB Global by 0.7% during the first quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider's stock worth $1,408,000 after purchasing an additional 100 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in RB Global by 10.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock worth $106,000 after buying an additional 104 shares during the period. Wealth Alliance LLC lifted its holdings in RB Global by 2.7% during the 1st quarter. Wealth Alliance LLC now owns 3,976 shares of the business services provider's stock worth $399,000 after buying an additional 104 shares in the last quarter. 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 valued at $25,000 after buying an additional 117 shares during the period. Finally, Fullcircle Wealth LLC grew its stake in shares of RB Global by 5.5% in the first quarter. Fullcircle Wealth LLC now owns 2,382 shares of the business services provider's stock worth $235,000 after acquiring an additional 124 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Andrew John Fesler sold 9,075 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total transaction of $950,334.00. Following the completion of the sale, the insider owned 5,532 shares in the company, valued at approximately $579,311.04. This represents a 62.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Adam Dewitt sold 800 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $84,936.00. Following the transaction, the director directly owned 5,865 shares in the company, valued at approximately $622,687.05. This represents a 12.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,133 shares of company stock valued at $7,843,729 in the last quarter. Corporate insiders own 4.32% of the company's stock.

RB Global Stock Performance

Shares of RBA traded down $0.56 during midday trading on Friday, reaching $107.71. 330,826 shares of the stock were exchanged, compared to its average volume of 1,072,371. The company has a market capitalization of $19.98 billion, a price-to-earnings ratio of 53.09, a PEG ratio of 2.50 and a beta of 0.77. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 1.21. RB Global, Inc. has a twelve month low of $70.38 and a twelve month high of $111.71. The business's 50-day moving average price is $106.56 and its 200 day moving average price is $100.74.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. RB Global had a return on equity of 8.03% and a net margin of 9.68%. The firm's revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share. On average, sell-side analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were paid a $0.29 dividend. The ex-dividend date was Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.1%. RB Global's payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Robert W. Baird increased their price objective on RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. National Bankshares reduced their price target 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. CIBC boosted their price objective on RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a research report on Friday, July 18th. National Bank Financial downgraded RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Finally, Wall Street Zen downgraded RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, RB Global presently has a consensus rating of "Moderate Buy" and a consensus price target of $116.21.

RB Global Company 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.