Millennium Management LLC Acquires 241,141 Shares of RB Global, Inc. (NYSE:RBA)

Millennium Management LLC lifted its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 93.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 499,592 shares of the business services provider's stock after purchasing an additional 241,141 shares during the period. Millennium Management LLC owned 0.27% of RB Global worth $45,068,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in RBA. CoreCap Advisors LLC raised its position in shares of RB Global by 74.5% during 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. Jones Financial Companies Lllp boosted its position in RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after acquiring an additional 129 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of RB Global in the 4th quarter valued at $36,000. Whipplewood Advisors LLC acquired a new position in shares of RB Global in the 4th quarter valued at about $37,000. Finally, Geneos Wealth Management Inc. acquired a new position in RB Global during the 4th quarter valued at about $40,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Andrew John Fesler sold 9,075 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total value of $950,334.00. Following the completion of the transaction, the insider now owns 5,532 shares in the company, valued at approximately $579,311.04. This represents a 62.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 2,000 shares of RB Global stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $106.96, for a total transaction of $213,920.00. Following the completion of the sale, the executive now owns 14,167 shares in the company, valued at $1,515,302.32. This trade represents a 12.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,472 shares of company stock valued at $3,867,745 in the last ninety days. 4.32% of the stock is currently owned by corporate insiders.

RB Global Stock Performance

Shares of NYSE:RBA traded up $0.37 during mid-day trading on Tuesday, reaching $108.99. The company had a trading volume of 1,081,584 shares, compared to its average volume of 1,112,047. 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 one year low of $70.27 and a one year high of $109.09. The firm has a market cap of $20.18 billion, a price-to-earnings ratio of 54.22, a PEG ratio of 4.95 and a beta of 0.78. The company's 50-day moving average price is $99.16 and its 200-day moving average price is $95.80.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted 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 business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the company earned $0.90 EPS. The company's quarterly revenue was up 4.1% compared to the same quarter last year. As a group, equities research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global's dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RBA. CIBC upped their price objective on shares of RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a report on Friday, May 9th. Royal Bank of Canada raised their price target on shares of RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. BMO Capital Markets boosted their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Robert W. Baird lifted their price target on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, StockNews.com upgraded RB Global from a "hold" rating to a "buy" rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $114.50.

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.