Insider Selling: RB Global (NYSE:RBA) CAO Sells 140 Shares of Stock

Key Points

• Insider sale: RB Global CAO Christopher Carlson sold 140 shares on May 5 at an average price of $110 for $15,400, reducing his holding by 3.68% to 3,664 shares, as disclosed in an SEC filing.
• Quarterly results and dividend: RB Global beat estimates with Q1 EPS of $1.01 vs. $0.97 and revenue of $1.21B (up 11.4% YoY), and declared a $0.31 quarterly dividend (annualized $1.24, yield 1.2%; ex-dividend May 27, payable June 18).
• Analyst and market view: The stock carries a consensus rating of Moderate Buy with an average price target of $125, while shares trade near $105.98 and the company has a market cap of $19.7B and a P/E of about 49.3.

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA CAO Christopher Carlson sold 140 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $110.00, for a total transaction of $15,400.00. Following the completion of the sale, the chief accounting officer directly owned 3,664 shares of the company's stock, valued at approximately $403,040. This represents a 3.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

RB Global Price Performance

Shares of RB Global stock traded down $0.55 during midday trading on Wednesday, reaching $105.98. The company had a trading volume of 1,189,696 shares, compared to its average volume of 1,156,224. The company has a current ratio of 1.14, a quick ratio of 1.02 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $19.70 billion, a price-to-earnings ratio of 49.29, a price-to-earnings-growth ratio of 1.62 and a beta of 0.57. The stock has a fifty day simple moving average of $101.02 and a 200 day simple moving average of $103.46. RB Global, Inc. has a 1-year low of $93.58 and a 1-year high of $119.58.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. RB Global's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 earnings per share. As a group, equities research analysts forecast that RB Global, Inc. will post 4.04 earnings per share for the current year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Wednesday, May 27th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. RB Global's dividend payout ratio (DPR) is currently 57.67%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Weiss Ratings raised shares of RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, February 26th. Stephens reaffirmed an "equal weight" rating and set a $96.00 target price on shares of RB Global in a report on Tuesday. Raymond James Financial lifted their target price on shares of RB Global from $135.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, January 20th. BMO Capital Markets reaffirmed an "outperform" rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a report on Tuesday. Finally, Royal Bank Of Canada lifted their target price on shares of RB Global from $146.00 to $150.00 and gave the stock an "outperform" rating in a report on Tuesday. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, RB Global currently has a consensus rating of "Moderate Buy" and an average price target of $125.00.

Institutional Trading of RB Global

A number of institutional investors have recently bought and sold shares of RBA. MV Capital Management Inc. acquired a new stake in RB Global during the 4th quarter worth $29,000. Bayban bought a new position in shares of RB Global during the fourth quarter worth $34,000. Central Pacific Bank Trust Division boosted its position in shares of RB Global by 41.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider's stock worth $37,000 after purchasing an additional 107 shares in the last quarter. Spire Wealth Management boosted its position in shares of RB Global by 1,090.6% during the third quarter. Spire Wealth Management now owns 381 shares of the business services provider's stock worth $41,000 after purchasing an additional 349 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of RB Global during the second quarter worth $46,000. Institutional investors and hedge funds own 95.37% of the company's stock.

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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