Trust Point Inc. Buys Shares of 21,978 RB Global, Inc. (NYSE:RBA)

Trust Point Inc. acquired a new stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,978 shares of the business services provider's stock, valued at approximately $1,470,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in RB Global by 144.9% during the third quarter. Vanguard Group Inc. now owns 22,647,288 shares of the business services provider's stock valued at $1,415,456,000 after purchasing an additional 13,400,942 shares during the last quarter. BlackRock Inc. raised its holdings in RB Global by 286.9% during the 2nd quarter. BlackRock Inc. now owns 6,479,856 shares of the business services provider's stock valued at $388,791,000 after buying an additional 4,804,923 shares during the period. Luxor Capital Group LP raised its holdings in RB Global by 95.9% during the 4th quarter. Luxor Capital Group LP now owns 4,209,222 shares of the business services provider's stock valued at $243,419,000 after buying an additional 2,060,511 shares during the period. State Street Corp raised its holdings in RB Global by 179.6% during the 2nd quarter. State Street Corp now owns 2,537,213 shares of the business services provider's stock valued at $152,233,000 after buying an additional 1,629,684 shares during the period. Finally, Norges Bank purchased a new stake in RB Global during the 4th quarter valued at $79,586,000. Institutional investors own 95.37% of the company's stock.

Wall Street Analyst Weigh In

RBA has been the topic of a number of analyst reports. Royal Bank of Canada upped their target price on RB Global from $75.00 to $93.00 and gave the company an "outperform" rating in a research note on Monday, February 26th. StockNews.com raised RB Global from a "sell" rating to a "hold" rating in a research note on Friday, February 9th. Raymond James boosted their price objective on shares of RB Global from $78.00 to $90.00 and gave the company an "outperform" rating in a research report on Monday, February 26th. Finally, Scotiabank boosted their price objective on shares of RB Global from $76.00 to $88.00 and gave the company a "sector outperform" rating in a research report on Monday, February 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $82.80.

Insider Buying and Selling

In related news, insider Darren Jeffrey Watt sold 2,300 shares of RB Global stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $76.97, for a total transaction of $177,031.00. Following the completion of the sale, the insider now owns 21,103 shares of the company's stock, valued at $1,624,297.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other RB Global news, CRO James J. Jeter sold 11,416 shares of RB Global stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $76.32, for a total transaction of $871,269.12. Following the completion of the transaction, the executive now owns 30,915 shares in the company, valued at approximately $2,359,432.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Darren Jeffrey Watt sold 2,300 shares of RB Global stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $76.97, for a total value of $177,031.00. Following the transaction, the insider now owns 21,103 shares of the company's stock, valued at approximately $1,624,297.91. The disclosure for this sale can be found here. Insiders sold 14,816 shares of company stock valued at $1,133,055 over the last quarter. 4.10% of the stock is currently owned by company insiders.

RB Global Stock Up 0.0 %

Shares of NYSE:RBA traded up $0.01 on Wednesday, reaching $76.13. The company had a trading volume of 642,640 shares, compared to its average volume of 866,659. The firm has a market capitalization of $13.91 billion, a PE ratio of 89.56, a PEG ratio of 5.83 and a beta of 0.87. RB Global, Inc. has a 52-week low of $51.07 and a 52-week high of $77.99. The company has a current ratio of 1.35, a quick ratio of 1.23 and a debt-to-equity ratio of 0.61. The firm's 50 day simple moving average is $72.00 and its 200-day simple moving average is $66.97.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.14. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.04 billion. RB Global had a net margin of 5.61% and a return on equity of 4.19%. RB Global's revenue was up 134.5% compared to the same quarter last year. During the same period last year, the firm earned $0.40 earnings per share. As a group, analysts expect that RB Global, Inc. will post 1.88 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Thursday, February 8th. RB Global's payout ratio is 127.06%.

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.