RB Global, Inc. (NYSE:RBA) Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 55.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,853 shares of the business services provider’s stock after purchasing an additional 3,873 shares during the period. Sterling Capital Management LLC’s holdings in RB Global were worth $979,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RBA. Natixis Advisors LLC lifted its holdings in RB Global by 69.5% during the 4th quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider’s stock worth $1,703,000 after buying an additional 7,737 shares during the last quarter. Mawer Investment Management Ltd. lifted its stake in RB Global by 15.7% during the fourth quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider’s stock worth $10,876,000 after purchasing an additional 16,397 shares during the last quarter. Vanguard Group Inc. boosted its holdings in RB Global by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock valued at $2,248,060,000 after purchasing an additional 358,752 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in RB Global in the fourth quarter valued at approximately $27,000. Finally, Pictet Asset Management Holding SA raised its holdings in RB Global by 16.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 100,318 shares of the business services provider’s stock worth $9,050,000 after purchasing an additional 13,836 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

RBA has been the subject of several research analyst reports. Royal Bank of Canada upped their target price 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. Raymond James upped their price objective on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. CIBC cut their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. Robert W. Baird upped their target price on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, National Bankshares reduced their price target on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $108.56.

Insider Activity

In related news, CRO James J. Jeter sold 7,597 shares of the firm’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 owns 20,267 shares in the company, valued at $1,983,125.95. This trade represents a 27.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Francis Kessler sold 15,700 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 107,569 shares in the company, valued at $10,521,323.89. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,897 shares of company stock valued at $2,338,161 in the last three months. 4.32% of the stock is currently owned by company insiders.

RB Global Price Performance

Shares of NYSE RBA opened at $97.67 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The company has a market cap of $18.05 billion, a PE ratio of 48.59, a P/E/G ratio of 4.95 and a beta of 0.90. The stock has a fifty day moving average price of $97.99 and a 200 day moving average price of $92.54. RB Global, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.23). The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period in the previous year, the firm earned $0.82 EPS. Sell-side analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

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

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.