Gotham Asset Management LLC Sells 9,227 Shares of RB Global, Inc. (NYSE:RBA)

Gotham Asset Management LLC reduced its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 9.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 84,697 shares of the business services provider's stock after selling 9,227 shares during the quarter. Gotham Asset Management LLC's holdings in RB Global were worth $7,641,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of RBA. Focus Partners Wealth bought a new position in RB Global in the fourth quarter valued at about $253,000. Fullcircle Wealth LLC bought a new position in RB Global in the fourth quarter valued at about $217,000. D. E. Shaw & Co. Inc. raised its position in RB Global by 190.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 20,058 shares of the business services provider's stock valued at $1,809,000 after purchasing an additional 13,158 shares during the last quarter. Deutsche Bank AG raised its position in RB Global by 4.4% in the fourth quarter. Deutsche Bank AG now owns 246,057 shares of the business services provider's stock valued at $22,197,000 after purchasing an additional 10,393 shares during the last quarter. Finally, CoreCap Advisors LLC raised its position in shares of RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after acquiring an additional 117 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RBA has been the subject of a number of analyst reports. CIBC raised their price objective on RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research report on Friday, May 9th. Royal Bank of Canada raised their target price on RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Raymond James raised their target price on RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. StockNews.com raised RB Global from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, BMO Capital Markets raised their target price on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.50.

RB Global Price Performance

RB Global stock traded up $1.35 during midday trading on Friday, hitting $108.24. 1,145,126 shares of the company's stock were exchanged, compared to its average volume of 1,110,864. RB Global, Inc. has a 52-week low of $70.27 and a 52-week high of $108.28. The stock has a 50-day moving average price of $98.75 and a two-hundred day moving average price of $95.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The company has a market cap of $20.04 billion, a P/E ratio of 53.85, a PEG ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (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 firm had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the prior year, the business earned $0.90 EPS. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities research analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global's dividend payout ratio is presently 57.14%.

Insider Activity at RB Global

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now owns 107,569 shares of the company's stock, valued at $10,521,323.89. This represents a 12.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO James J. Jeter sold 7,597 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.85, for a total value of $743,366.45. Following the transaction, the executive now directly owns 20,267 shares of the company's stock, valued at $1,983,125.95. The trade was a 27.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,472 shares of company stock worth $3,867,745 in the last ninety days. 4.32% of the stock is owned by company insiders.

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.