Insider Buying: RB Global (NYSE:RBA) Director Acquires $100,488.00 in Stock

Key Points

• RB Global Director Chloe Harford purchased 1,200 shares at an average price of $83.74, investing $100,488 and becoming a direct shareholder.
• RB Global reported quarterly adjusted earnings of $1.13 per share, beating estimates by $0.04, while revenue of $1.66 billion exceeded forecasts of $1.21 billion.
• The company raised its quarterly dividend from $0.31 to $0.33 per share, equivalent to $1.32 annually and a 1.6% yield; analysts maintain a “Moderate Buy” consensus with a $128 average price target.

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA Director Chloe Harford purchased 1,200 shares of the business's stock in a transaction that occurred on Monday, August 24th. The shares were purchased at an average cost of $83.74 per share, with a total value of $100,488.00. Following the completion of the acquisition, the director directly owned 1,200 shares of the company's stock, valued at $100,488. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

RB Global Price Performance

Shares of RBA traded up $0.86 during mid-day trading on Tuesday, hitting $84.93. The company's stock had a trading volume of 1,031,646 shares, compared to its average volume of 1,385,997. RB Global, Inc. has a 1-year low of $82.03 and a 1-year high of $119.58. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51. The firm has a 50-day simple moving average of $105.23 and a 200 day simple moving average of $103.96. The firm has a market capitalization of $15.72 billion, a P/E ratio of 36.52, a P/E/G ratio of 1.49 and a beta of 0.56.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.09 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.21 billion. RB Global had a net margin of 9.99% and a return on equity of 12.37%. Analysts predict that RB Global, Inc. will post 4.06 EPS for the current fiscal year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, August 25th. This is an increase from RB Global's previous quarterly dividend of $0.31. RB Global's dividend payout ratio (DPR) is 53.22%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RBA. Wall Street Zen cut shares of RB Global from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. National Bank Financial increased their price objective on shares of RB Global from $132.00 to $133.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Zacks Research cut shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. Royal Bank Of Canada increased their target price on shares of RB Global from $150.00 to $152.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Finally, Raymond James Financial raised RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 price objective on the stock in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $128.00.

Institutional Investors Weigh In On RB Global

Hedge funds have recently added to or reduced their stakes in the stock. Addison Advisors LLC acquired a new position in shares of RB Global during the second quarter worth approximately $26,000. MV Capital Management Inc. purchased a new position in shares of RB Global in the fourth quarter worth approximately $29,000. J.Safra Asset Management Corp acquired a new stake in RB Global during the 2nd quarter valued at $32,000. Bayban purchased a new stake in RB Global in the 4th quarter worth about $34,000. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in shares of RB Global in the first quarter worth approximately $43,000. 95.37% of the stock is currently owned by institutional investors.

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.

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