RB Global, Inc. (NYSE:RBA - Get Free Report) (TSE:RBA) Director Chloe Harford acquired 1,200 shares of the business's stock in a transaction that occurred on Monday, August 24th. The shares were acquired at an average cost of $83.74 per share, with a total value of $100,488.00. Following the completion of the transaction, the director directly owned 1,200 shares in the company, valued at approximately $100,488. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
RB Global Stock Up 1.2%
Shares of RBA opened at $85.12 on Wednesday. The company's 50-day moving average price is $104.72 and its 200 day moving average price is $103.74. RB Global, Inc. has a 12-month low of $82.03 and a 12-month high of $119.58. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51. The firm has a market cap of $15.76 billion, a P/E ratio of 36.53, a price-to-earnings-growth ratio of 1.44 and a beta of 0.56.
RB Global (NYSE:RBA - Get Free Report) (TSE:RBA) last announced its earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.21 billion. On average, sell-side analysts forecast that RB Global, Inc. will post 4.06 earnings per share for the current year.
RB Global Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, August 25th. This is an increase from RB Global's previous quarterly dividend of $0.31. RB Global's dividend payout ratio is 53.22%.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on RBA. Zacks Research lowered RB Global from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 13th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of RB Global in a research note on Wednesday, August 5th. Stephens reiterated an "equal weight" rating and issued a $96.00 price objective on shares of RB Global in a report on Tuesday, May 5th. BMO Capital Markets reiterated an "outperform" rating and issued a $135.00 price objective (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada increased their target price on RB Global from $150.00 to $152.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $128.00.
Check Out Our Latest Research Report on RB Global
Hedge Funds Weigh In On RB Global
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of RB Global in the second quarter valued at $1,816,059,000. EdgePoint Investment Group Inc. grew its stake in RB Global by 14.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider's stock worth $845,337,000 after purchasing an additional 1,111,217 shares in the last quarter. State Street Corp increased its holdings in RB Global by 1.7% during the 4th quarter. State Street Corp now owns 6,290,640 shares of the business services provider's stock worth $647,118,000 after purchasing an additional 104,286 shares during the period. Royal Bank of Canada increased its holdings in RB Global by 13.1% during the 1st quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider's stock worth $483,432,000 after purchasing an additional 585,617 shares during the period. Finally, Geode Capital Management LLC raised its position in RB Global by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider's stock valued at $513,930,000 after purchasing an additional 250,887 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.
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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