RB Global, Inc. (NYSE:RBA) Short Interest Update

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA saw a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 7,740,000 shares, an increase of 26.5% from the April 30th total of 6,120,000 shares. Based on an average trading volume of 1,180,000 shares, the days-to-cover ratio is currently 6.6 days. Approximately 4.2% of the shares of the company are short sold.

Insider Buying and Selling

In other news, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction 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. The trade was a 12.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO James J. Jeter sold 600 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $98.63, for a total value of $59,178.00. Following the completion of the transaction, the executive now directly owns 19,667 shares in the company, valued at approximately $1,939,756.21. This represents a 2.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,472 shares of company stock valued at $3,867,745. 4.32% of the stock is owned by insiders.

Institutional Trading of RB Global

A number of institutional investors and hedge funds have recently modified their holdings of RBA. Vanguard Group Inc. increased its holdings in RB Global by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock valued at $2,248,060,000 after buying an additional 358,752 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in RB Global by 3.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider's stock worth $1,027,191,000 after buying an additional 352,530 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of RB Global by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock worth $762,378,000 after buying an additional 753,700 shares during the period. Geode Capital Management LLC grew its stake in shares of RB Global by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider's stock valued at $357,434,000 after acquiring an additional 264,778 shares during the period. Finally, Fiera Capital Corp grew its stake in shares of RB Global by 17.3% during the 1st quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider's stock valued at $379,150,000 after acquiring an additional 557,407 shares during the period. Institutional investors own 95.37% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. BMO Capital Markets upped their price target on shares of RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Raymond James increased their target price on RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Robert W. Baird lifted their price target on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Wall Street Zen lowered RB Global from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, National Bank Financial cut shares of RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, RB Global currently has a consensus rating of "Moderate Buy" and an average target price of $114.50.

RB Global Stock Down 1.1%

Shares of NYSE:RBA traded down $1.15 during trading on Wednesday, hitting $104.37. The stock had a trading volume of 850,439 shares, compared to its average volume of 1,133,548. RB Global has a 12 month low of $70.38 and a 12 month high of $109.25. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The firm's fifty day moving average is $100.89 and its 200 day moving average is $96.97. The company has a market capitalization of $19.32 billion, a PE ratio of 51.93, a PEG ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business's revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $0.90 earnings per share. Analysts anticipate that RB Global will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, May 29th. RB Global's dividend payout ratio is presently 57.14%.

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.