Independent Franchise Partners LLP Sells 1,057,725 Shares of RB Global, Inc. (NYSE:RBA)

Independent Franchise Partners LLP trimmed its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 9.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,663,962 shares of the business services provider's stock after selling 1,057,725 shares during the quarter. RB Global comprises approximately 6.5% of Independent Franchise Partners LLP's portfolio, making the stock its 4th biggest position. Independent Franchise Partners LLP owned approximately 5.23% of RB Global worth $871,786,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Central Pacific Bank Trust Division purchased a new stake in shares of RB Global in the 4th quarter valued at about $27,000. Versant Capital Management Inc grew its position in RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock worth $28,000 after purchasing an additional 176 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after buying an additional 129 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of RB Global during the fourth quarter worth about $36,000. Finally, Whipplewood Advisors LLC purchased a new stake in RB Global during the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 95.37% of the company's stock.

RB Global Trading Up 0.9 %

Shares of NYSE RBA traded up $0.90 on Friday, reaching $97.48. 835,270 shares of the company traded hands, compared to its average volume of 1,073,765. The company has a 50 day moving average of $98.15 and a 200 day moving average of $92.69. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. The stock has a market capitalization of $18.02 billion, a PE ratio of 48.50, a P/E/G ratio of 4.95 and a beta of 0.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.81 by ($0.23). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same quarter last year, the business earned $0.82 EPS. On average, equities research analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Friday, February 14th. RB Global's dividend payout ratio (DPR) is presently 57.71%.

Insiders Place Their Bets

In other news, CRO James J. Jeter sold 7,597 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.85, for a total value of $743,366.45. Following the sale, the executive now owns 20,267 shares in the company, valued at approximately $1,983,125.95. This represents a 27.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,897 shares of company stock worth $2,338,161 over the last ninety days. 4.32% of the stock is owned by company insiders.

Analyst Ratings Changes

RBA has been the subject of several analyst reports. Raymond James upped their price target on RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. National Bankshares cut their price target on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Robert W. Baird lifted their price objective on RB Global from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. BMO Capital Markets raised their price target on RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, 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 report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $108.56.

About RB Global

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.