Key Points
- CEO James Francis Kessler sold 20,742 shares on Jan. 21 at an average price of $115, generating $2.385 million and reducing his holding by 16.17% to 107,569 shares (valued at about $12.37 million).
- RB Global beat quarterly expectations with EPS of $0.93 vs. $0.83 and revenue of $1.11 billion (up 12% year-over-year), signaling stronger-than-expected performance.
- The company declared a quarterly dividend of $0.31 per share (annualized $1.24), with an ex-dividend/record date of Feb. 9 and a payout on Mar. 2, implying a ~1.1% yield.
RB Global, Inc. (NYSE:RBA - Get Free Report) (TSE:RBA) CEO James Francis Kessler sold 20,742 shares of the business'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 transaction, the chief executive officer directly owned 107,569 shares of the company's stock, valued at $12,370,435. The trade was a 16.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
RB Global Price Performance
RB Global stock opened at $116.53 on Friday. The stock has a market capitalization of $21.66 billion, a P/E ratio of 55.76, a P/E/G ratio of 2.16 and a beta of 0.57. RB Global, Inc. has a 12-month low of $86.68 and a 12-month high of $119.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.15. The firm's 50-day moving average is $103.88 and its two-hundred day moving average is $107.19.
RB Global (NYSE:RBA - Get Free Report) (TSE:RBA) last posted its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.10. RB Global had a net margin of 9.65% and a return on equity of 9.66%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the business posted $0.71 earnings per share. The company's revenue was up 12.0% on a year-over-year basis. Equities analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.
RB Global Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, February 9th. RB Global's dividend payout ratio is currently 59.33%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of RBA. Central Pacific Bank Trust Division increased its position in shares of RB Global by 41.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider's stock worth $37,000 after acquiring an additional 107 shares in the last quarter. Spire Wealth Management boosted its position in RB Global by 1,090.6% during the 3rd quarter. Spire Wealth Management now owns 381 shares of the business services provider's stock worth $41,000 after purchasing an additional 349 shares during the period. State of Wyoming acquired a new stake in RB Global in the 2nd quarter valued at $46,000. Whipplewood Advisors LLC raised its position in RB Global by 42.9% in the second quarter. Whipplewood Advisors LLC now owns 456 shares of the business services provider's stock valued at $48,000 after purchasing an additional 137 shares during the period. Finally, SouthState Corp lifted its stake in shares of RB Global by 75.6% during the second quarter. SouthState Corp now owns 453 shares of the business services provider's stock worth $48,000 after purchasing an additional 195 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
RBA has been the subject of a number of recent analyst reports. Raymond James Financial lifted 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. Bank of America lowered their price target on RB Global from $120.00 to $114.00 and set a "buy" rating for the company in a report on Friday, November 7th. Royal Bank Of Canada increased their price objective on shares of RB Global from $132.00 to $133.00 and gave the stock an "outperform" rating in a report on Friday, November 7th. Weiss Ratings cut shares of RB Global from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Saturday, October 25th. Finally, National Bankshares dropped their price target on shares of RB Global from $113.00 to $111.00 and set a "sector perform" rating for the company in a research report on Thursday, October 9th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $124.13.
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About RB Global
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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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