Insider Selling: RB Global, Inc. (NYSE:RBA) CEO Sells $1,505,569.77 in Stock

by · The Markets Daily

RB Global, Inc. (NYSE:RBA – Get Free Report) (TSE:RBA) CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the transaction, the chief executive officer now owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

James Francis Kessler also recently made the following trade(s):

  • On Monday, September 9th, James Francis Kessler sold 17,883 shares of RB Global stock. The shares were sold at an average price of $83.09, for a total value of $1,485,898.47.

RB Global Stock Down 1.7 %

Shares of RB Global stock opened at $80.71 on Friday. The business has a fifty day simple moving average of $82.02 and a 200 day simple moving average of $77.89. The stock has a market cap of $14.76 billion, a PE ratio of 48.62, a price-to-earnings-growth ratio of 5.39 and a beta of 0.93. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. RB Global, Inc. has a 12 month low of $58.85 and a 12 month high of $87.45.

RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last posted its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.06. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 EPS. Research analysts predict that RB Global, Inc. will post 1.96 EPS for the current year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.44%. The ex-dividend date was Wednesday, August 28th. This is an increase from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio is presently 69.88%.

Institutional Investors Weigh In On RB Global

Several hedge funds have recently bought and sold shares of RBA. Wells Fargo & Company MN grew its holdings in shares of RB Global by 8.9% in the 4th quarter. Wells Fargo & Company MN now owns 132,663 shares of the business services provider’s stock valued at $8,874,000 after buying an additional 10,867 shares during the period. Corient Private Wealth LLC grew its stake in RB Global by 8.1% in the fourth quarter. Corient Private Wealth LLC now owns 20,786 shares of the business services provider’s stock valued at $1,390,000 after acquiring an additional 1,557 shares during the period. Assetmark Inc. increased its holdings in shares of RB Global by 36.0% in the fourth quarter. Assetmark Inc. now owns 5,827 shares of the business services provider’s stock worth $390,000 after acquiring an additional 1,542 shares in the last quarter. Franklin Resources Inc. raised its position in shares of RB Global by 4.8% during the fourth quarter. Franklin Resources Inc. now owns 13,228 shares of the business services provider’s stock worth $885,000 after purchasing an additional 601 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of RB Global by 3.9% during the 4th quarter. TD Asset Management Inc now owns 603,261 shares of the business services provider’s stock valued at $40,567,000 after purchasing an additional 22,636 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RBA. Raymond James increased their price objective on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. CIBC started coverage on shares of RB Global in a report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price target for the company. Bank of America upped their price objective on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th. Robert W. Baird lifted their target price on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets assumed coverage on RB Global in a research note on Thursday, September 5th. They set an “outperform” rating and a $105.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, RB Global currently has an average rating of “Moderate Buy” and a consensus target price of $92.19.

View Our Latest Stock Report on RBA

RB Global Company Profile

(Get Free Report)

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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