RB Global, Inc. $RBA Shares Sold by Swiss National Bank

Swiss National Bank lessened its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 532,943 shares of the business services provider’s stock after selling 29,700 shares during the period. Swiss National Bank’s holdings in RB Global were worth $57,750,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of RB Global in the second quarter worth about $255,798,000. JARISLOWSKY FRASER Ltd acquired a new stake in shares of RB Global during the 3rd quarter valued at about $195,640,000. Massachusetts Financial Services Co. MA grew its position in shares of RB Global by 7.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock valued at $1,162,370,000 after acquiring an additional 705,423 shares during the period. Vontobel Holding Ltd. increased its stake in shares of RB Global by 10.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock valued at $781,862,000 after purchasing an additional 672,450 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of RB Global by 7.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,552,803 shares of the business services provider’s stock valued at $482,383,000 after purchasing an additional 317,781 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RBA shares. Weiss Ratings upgraded RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Raymond James Financial boosted their price objective on RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. BMO Capital Markets upped 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. National Bank Financial upgraded RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price on the stock in a research report on Monday, November 24th. Finally, Royal Bank Of Canada lifted their price target on shares of RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, RB Global presently has an average rating of “Buy” and an average price target of $129.29.

Insider Transactions at RB Global

In related news, CEO James Francis Kessler sold 20,742 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the completion of the sale, the chief executive officer owned 107,569 shares of the company’s stock, valued at approximately $12,370,435. This represents a 16.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.32% of the company’s stock.

RB Global Stock Down 1.1%

NYSE RBA opened at $102.17 on Thursday. The business has a fifty day moving average price of $108.52 and a 200 day moving average price of $106.48. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.10. The company has a market cap of $18.99 billion, a P/E ratio of 50.08, a P/E/G ratio of 1.57 and a beta of 0.57. RB Global, Inc. has a one year low of $87.87 and a one year high of $119.58.

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

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 9th were given a dividend of $0.31 per share. The ex-dividend date was Monday, February 9th. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. RB Global’s payout ratio is presently 60.78%.

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.