RB Global (NYSE:RBA) Insider Sells $254,140.65 in Stock

Key Points

• RB Global insider Michael Thomas Steven Lewis sold 2,151 shares at an average price of $118.15, resulting in a total transaction value of $254,140.65.
• The company recently announced a quarterly dividend of $0.31 per share, reflecting an increase from the previous dividend of $0.29.
• RB Global reported $1.07 EPS for the last quarter, exceeding analysts' expectations and showing a revenue increase of 8.2% year-over-year.

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA insider Michael Thomas Steven Lewis sold 2,151 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $118.15, for a total transaction of $254,140.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

RB Global Trading Down 0.2%

NYSE:RBA traded down $0.26 during trading hours on Monday, hitting $116.89. The stock had a trading volume of 500,821 shares, compared to its average volume of 1,068,117. The business's 50 day moving average is $112.28 and its 200-day moving average is $105.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28. RB Global, Inc. has a one year low of $78.08 and a one year high of $118.79. The company has a market cap of $21.69 billion, a price-to-earnings ratio of 57.85, a P/E/G ratio of 2.72 and a beta of 0.65.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.12. The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.14 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.94 earnings per share. Sell-side analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from RB Global's previous quarterly dividend of $0.29. RB Global's payout ratio is currently 61.39%.

Institutional Trading of RB Global

Several large investors have recently bought and sold shares of RBA. Vanguard Group Inc. lifted its position in shares of RB Global by 1.2% in the second quarter. Vanguard Group Inc. now owns 25,205,500 shares of the business services provider's stock valued at $2,676,926,000 after acquiring an additional 289,094 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in RB Global by 3.6% during 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 during the period. Geode Capital Management LLC lifted its position in RB Global by 7.5% during the second quarter. Geode Capital Management LLC now owns 4,552,803 shares of the business services provider's stock worth $482,383,000 after buying an additional 317,781 shares during the period. Fiera Capital Corp lifted its position in RB Global by 2.7% during the second quarter. Fiera Capital Corp now owns 3,876,595 shares of the business services provider's stock worth $411,586,000 after buying an additional 102,681 shares during the period. Finally, Invesco Ltd. lifted its position in RB Global by 26.9% during the first quarter. Invesco Ltd. now owns 2,436,296 shares of the business services provider's stock worth $244,360,000 after buying an additional 516,865 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RBA shares. National Bank Financial downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Wall Street Zen lowered shares of RB Global from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. CIBC lifted their target price on shares of RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research report on Friday, July 18th. BMO Capital Markets lifted their price target on shares of RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada lifted their target price on shares of RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $124.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.