Trust Point Inc. Sells 9,024 Shares of RB Global, Inc. (NYSE:RBA)

Trust Point Inc. reduced its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 33.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,902 shares of the business services provider's stock after selling 9,024 shares during the quarter. Trust Point Inc.'s holdings in RB Global were worth $1,796,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in RBA. Raymond James Financial Inc. bought a new stake in shares of RB Global in the fourth quarter valued at about $266,148,000. Norges Bank purchased a new position in RB Global in the fourth quarter valued at about $209,931,000. FMR LLC grew its stake in RB Global by 137.5% in the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider's stock valued at $252,985,000 after purchasing an additional 1,623,429 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in RB Global in the fourth quarter valued at about $39,080,000. Finally, FIL Ltd grew its stake in RB Global by 26.4% in the fourth quarter. FIL Ltd now owns 2,030,696 shares of the business services provider's stock valued at $183,189,000 after purchasing an additional 424,060 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Adam Dewitt sold 800 shares of RB Global stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total transaction of $84,936.00. Following the completion of the sale, the director now owns 5,865 shares of the company's stock, valued at $622,687.05. The trade was a 12.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Darren Jeffrey Watt sold 3,700 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total value of $392,829.00. Following the completion of the transaction, the insider now directly owns 24,874 shares of the company's stock, valued at $2,640,872.58. The trade was a 12.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,675 shares of company stock valued at $2,066,527 over the last quarter. 4.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RBA has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Raymond James lifted their target price on RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. BMO Capital Markets lifted their target price on RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Wall Street Zen lowered RB Global from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, National Bankshares dropped their price target 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. Three equities research 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 currently has a consensus rating of "Moderate Buy" and an average target price of $114.50.

RB Global Price Performance

Shares of RBA stock opened at $106.39 on Monday. RB Global, Inc. has a fifty-two week low of $70.38 and a fifty-two week high of $109.25. The firm has a market capitalization of $19.70 billion, a price-to-earnings ratio of 52.93, 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 stock's 50-day simple moving average is $102.47 and its 200-day simple moving average is $97.52.

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 EPS 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 quarter in the previous year, the company posted $0.90 earnings per share. The company's revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

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 dividend yield of 1.09%. The ex-dividend date is Thursday, May 29th. RB Global's dividend payout ratio (DPR) is 57.14%.

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.

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