Sunpointe LLC Sells 21,500 Shares of RB Global, Inc. $RBA

Sunpointe LLC decreased its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 83.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,274 shares of the business services provider’s stock after selling 21,500 shares during the quarter. Sunpointe LLC’s holdings in RB Global were worth $463,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC grew its position in shares of RB Global by 94.3% during the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock worth $1,031,000 after buying an additional 5,090 shares during the period. NewEdge Advisors LLC grew its stake in shares of RB Global by 53.1% during the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after purchasing an additional 204 shares during the period. Jones Financial Companies Lllp increased its holdings in RB Global by 857.9% in the first quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock valued at $375,000 after purchasing an additional 3,346 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in RB Global by 35.6% during the first quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock worth $33,940,000 after buying an additional 88,813 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in shares of RB Global during the 1st quarter worth about $4,103,000. Institutional investors own 95.37% of the company’s stock.

RB Global Stock Up 3.1%

RB Global stock opened at $106.43 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. RB Global, Inc. has a 1-year low of $87.87 and a 1-year high of $119.58. The company has a fifty day simple moving average of $108.59 and a 200 day simple moving average of $106.86. The company has a market cap of $19.79 billion, a P/E ratio of 52.17, a price-to-earnings-growth ratio of 1.57 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.99 by $0.12. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 EPS. Research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Monday, February 9th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, February 9th. RB Global’s dividend payout ratio (DPR) is currently 60.78%.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 20,742 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the sale, the chief executive officer owned 107,569 shares in the company, valued at $12,370,435. This represents a 16.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 4.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RBA has been the subject of several recent analyst reports. Weiss Ratings raised shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Bank of America reduced their target price on RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Royal Bank Of Canada lifted their price objective on RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. BMO Capital Markets increased their target price on RB Global from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Finally, National Bank Financial raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price target on the stock in a research note on Monday, November 24th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, RB Global currently has an average rating of “Buy” and a consensus price target of $129.29.

RB Global 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.