Russell Investments Group Ltd. Decreases Holdings in RB Global, Inc. (NYSE:RBA)

Russell Investments Group Ltd. reduced its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 11.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,042 shares of the business services provider's stock after selling 6,567 shares during the period. Russell Investments Group Ltd.'s holdings in RB Global were worth $4,695,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RBA. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in RB Global by 0.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider's stock worth $3,674,000 after acquiring an additional 113 shares during the last quarter. Jones Financial Companies Lllp increased its position 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 worth $35,000 after purchasing an additional 129 shares during the last quarter. Summit Trail Advisors LLC raised its stake in RB Global by 4.6% during the fourth quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider's stock valued at $279,000 after purchasing an additional 137 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in RB Global by 25.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider's stock valued at $64,000 after purchasing an additional 143 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock worth $28,000 after buying an additional 176 shares in the last quarter. Institutional investors own 95.37% of the company's stock.

RB Global Trading Up 0.9 %

RBA stock traded up $0.90 during trading on Friday, hitting $97.48. The company had a trading volume of 835,270 shares, compared to its average volume of 1,075,953. RB Global, Inc. has a 52-week low of $69.83 and a 52-week high of $106.90. The company has a 50 day simple moving average of $98.15 and a 200-day simple moving average of $92.69. The firm has a market capitalization of $18.02 billion, a P/E ratio of 48.50, a PEG ratio of 4.95 and a beta of 0.90. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts' consensus estimates of $0.81 by ($0.23). The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period last year, the business posted $0.82 earnings per share. As a group, research analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Friday, February 14th. RB Global's dividend payout ratio (DPR) is presently 57.71%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RBA. Raymond James increased their price target on shares of RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. CIBC lowered their price target on RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a research report on Monday, February 3rd. National Bankshares cut their price objective on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. BMO Capital Markets raised their target price on shares of RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, StockNews.com cut shares of RB Global from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, RB Global currently has an average rating of "Moderate Buy" and a consensus target price of $108.56.

Insiders Place Their Bets

In related news, CRO James J. Jeter sold 7,597 shares of the company's stock in a transaction dated Monday, March 17th. The shares were 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 of the company's stock, valued at $1,983,125.95. This represents a 27.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the chief executive officer now directly owns 107,569 shares of the company's stock, valued at $10,521,323.89. The trade was a 12.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,897 shares of company stock worth $2,338,161. 4.32% of the stock is currently owned by company insiders.

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.