Christopher Carlson Sells 140 Shares of RB Global (NYSE:RBA) Stock

Key Points

  • CAO Christopher Carlson sold 140 shares of RB Global on May 5 at an average price of $110 for $15,400, reducing his stake by 3.68% to 3,664 shares (filing available on the SEC website).
  • RB Global posted an earnings beat for the quarter with $1.01 EPS versus $0.97 expected and $1.21 billion in revenue (up 11.4% year-over-year versus $1.13 billion consensus).
  • Dividend and analyst outlook: the company declared a $0.31 quarterly dividend (annualized $1.24, 1.2% yield; ex-dividend May 27), and analysts hold a consensus "Moderate Buy" with an average price target of $125.

RB Global, Inc. (NYSE:RBA - Get Free Report) (TSE:RBA) CAO Christopher Carlson sold 140 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $110.00, for a total value of $15,400.00. Following the transaction, the chief accounting officer directly owned 3,664 shares in the company, valued at approximately $403,040. This represents a 3.68% 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 Stock Performance

Shares of RBA opened at $105.98 on Thursday. The company has a market capitalization of $19.70 billion, a PE ratio of 49.29, a price-to-earnings-growth ratio of 1.62 and a beta of 0.57. RB Global, Inc. has a one year low of $93.58 and a one year high of $119.58. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.02. The company's fifty day moving average price is $101.02 and its 200 day moving average price is $103.46.

RB Global (NYSE:RBA - Get Free Report) (TSE:RBA) last announced its earnings results on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.97 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 EPS. As a group, analysts expect that RB Global, Inc. will post 4.04 earnings per share for the current year.

RB Global Dividend Announcement




The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Wednesday, May 27th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, May 27th. RB Global's dividend payout ratio (DPR) is 57.67%.

Institutional Investors Weigh In On RB Global

Several hedge funds have recently made changes to their positions in the stock. Personal CFO Solutions LLC lifted its stake in shares of RB Global by 0.9% in the first quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider's stock valued at $1,073,000 after buying an additional 96 shares during the period. Covestor Ltd lifted its stake in shares of RB Global by 11.6% in the fourth quarter. Covestor Ltd now owns 933 shares of the business services provider's stock valued at $96,000 after buying an additional 97 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of RB Global by 21.9% in the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock valued at $54,000 after buying an additional 97 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of RB Global by 5.4% in the third quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider's stock valued at $221,000 after buying an additional 105 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of RB Global by 12.9% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 938 shares of the business services provider's stock valued at $102,000 after buying an additional 107 shares during the period. Institutional investors own 95.37% of the company's stock.

Wall Street Analysts Forecast Growth

RBA has been the topic of several recent analyst reports. Stephens reiterated an "equal weight" rating and issued a $96.00 target price on shares of RB Global in a report on Tuesday. Weiss Ratings upgraded RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, February 26th. Raymond James Financial upped their price target on RB Global from $135.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, January 20th. Royal Bank Of Canada upped their price target on RB Global from $146.00 to $150.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, RB Global currently has a consensus rating of "Moderate Buy" and an average price target of $125.00.

View Our Latest Stock Analysis on RBA

About RB Global

(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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