RB Global (NYSE:RBA) Reaches New 52-Week High Following Dividend Announcement

Shares of RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA hit a new 52-week high during trading on Monday after the company announced a dividend. The stock traded as high as $108.99 and last traded at $106.16, with a volume of 6071 shares. The stock had previously closed at $105.94.The newly announced dividend which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $1.16 annualized dividend and a yield of 1.10%. RB Global's payout ratio is 57.14%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RBA shares. Robert W. Baird raised their price target on RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Thursday. BMO Capital Markets increased their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Royal Bank of Canada increased their price objective on shares of RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. StockNews.com upgraded shares of RB Global from a "hold" rating to a "buy" rating in a report on Friday. Finally, National Bankshares dropped their price objective on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, RB Global presently has an average rating of "Moderate Buy" and a consensus price target of $114.50.

RB Global Stock Down 0.6%

The company has a market capitalization of $19.49 billion, a PE ratio of 52.82, a price-to-earnings-growth 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's 50-day simple moving average is $98.33 and its 200-day simple moving average is $94.93.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results 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. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The firm's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 earnings per share. As a group, equities research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

Insider Activity

In related news, CRO James J. Jeter sold 7,597 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the completion of the sale, the executive now owns 20,267 shares in the company, valued at $1,983,125.95. This represents a 27.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the sale, the chief executive officer now owns 107,569 shares of the company's stock, valued at $10,521,323.89. This trade represents a 12.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,897 shares of company stock valued at $2,338,161 in the last 90 days. 4.32% of the stock is currently owned by insiders.

Institutional Trading of RB Global

Several institutional investors and hedge funds have recently made changes to their positions in RBA. CoreCap Advisors LLC grew its holdings in shares of RB Global by 74.5% in 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 period. MV Capital Management Inc. increased its holdings in RB Global by 5,560.0% in the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock worth $28,000 after acquiring an additional 278 shares in the last quarter. IFP Advisors Inc raised its stake in shares of RB Global by 348.8% in the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock valued at $36,000 after acquiring an additional 279 shares during the period. Jones Financial Companies Lllp raised its stake in RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after buying an additional 129 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in shares of RB Global during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 95.37% of the company's stock.

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.

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