RB Global (NYSE:RBA) Downgraded by National Bank Financial to Hold

National Bank Financial cut shares of RB Global (NYSE:RBA - Free Report) TSE: RBA from a strong-buy rating to a hold rating in a research note published on Sunday morning,Zacks.com reports.

RBA has been the subject of several other reports. Robert W. Baird increased their price objective on RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Royal Bank of Canada increased their price objective on RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Wall Street Zen upgraded RB Global from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. CIBC increased 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. Finally, National Bankshares lowered their price objective on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $114.50.

RB Global Stock Performance

Shares of RBA stock traded up $1.43 during trading on Friday, hitting $105.31. The company's stock had a trading volume of 1,293,776 shares, compared to its average volume of 1,134,677. The company has a market cap of $19.50 billion, a PE ratio of 52.39, a P/E/G ratio of 4.95 and a beta of 0.78. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average of $100.68 and a 200-day moving average of $96.75. RB Global has a 52 week low of $70.27 and a 52 week high of $109.25.

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 company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. RB Global's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. As a group, research analysts anticipate that RB Global will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.10%. RB Global's payout ratio is 57.14%.

Insider Buying and Selling at RB Global

In related news, insider Andrew John Fesler sold 9,075 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total value of $950,334.00. Following the sale, the insider now directly owns 5,532 shares of the company's stock, valued at $579,311.04. This trade represents a 62.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO James J. Jeter sold 7,597 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.85, for a total value of $743,366.45. Following the completion of the sale, the executive now directly owns 20,267 shares in the company, valued at $1,983,125.95. The trade was a 27.26% 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 worth $3,867,745 over the last 90 days. Corporate insiders own 4.32% of the company's stock.

Institutional Trading of RB Global

Several large investors have recently modified their holdings of RBA. Janney Montgomery Scott LLC grew its stake in shares of RB Global by 4.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 27,895 shares of the business services provider's stock worth $2,516,000 after purchasing an additional 1,266 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of RB Global by 2.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,049 shares of the business services provider's stock worth $816,000 after purchasing an additional 225 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of RB Global in the fourth quarter worth about $40,000. Blue Trust Inc. grew its stake in shares of RB Global by 23.7% in the fourth quarter. Blue Trust Inc. now owns 1,829 shares of the business services provider's stock worth $165,000 after purchasing an additional 351 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in RB Global by 52.6% during the 4th quarter. Pacer Advisors Inc. now owns 41,359 shares of the business services provider's stock valued at $3,731,000 after acquiring an additional 14,253 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

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.