Key Points
- RB Global director Deborah Stein bought 500 shares at an average price of $80.91, investing $40,455 and increasing her holdings by 27.4% to 2,325 shares.
- The company reported quarterly EPS of $1.13, exceeding estimates of $1.09, while revenue reached $1.66 billion versus the $1.21 billion consensus estimate.
- RB Global raised its quarterly dividend to $0.33 per share, equivalent to an annualized $1.32 payout and a 1.6% yield; analysts maintain a “Moderate Buy” consensus with a $128 target price.
RB Global, Inc. (NYSE:RBA - Get Free Report) (TSE:RBA) Director Deborah Stein purchased 500 shares of the company's stock in a transaction dated Wednesday, September 9th. The stock was purchased at an average cost of $80.91 per share, for a total transaction of $40,455.00. Following the transaction, the director owned 2,325 shares of the company's stock, valued at approximately $188,115.75. This trade represents a 27.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
RB Global Stock Performance
Shares of RBA opened at $80.52 on Friday. The company has a market capitalization of $14.91 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 1.39 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. RB Global, Inc. has a one year low of $79.75 and a one year high of $119.58. The company's fifty day moving average price is $97.85 and its 200 day moving average price is $101.59.
RB Global (NYSE:RBA - Get Free Report) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. As a group, analysts expect that RB Global, Inc. will post 4.06 earnings per share for the current year.
RB Global Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be issued a $0.33 dividend. This is an increase from RB Global's previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a yield of 1.6%. RB Global's payout ratio is 56.65%.
Institutional Trading of RB Global
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Addison Advisors LLC acquired a new position in RB Global in the second quarter worth about $26,000. J.Safra Asset Management Corp bought a new position in RB Global during the second quarter worth about $32,000. MV Capital Management Inc. acquired a new stake in RB Global during the fourth quarter valued at approximately $29,000. Integrated Wealth Concepts LLC bought a new stake in shares of RB Global in the 2nd quarter valued at approximately $35,000. Finally, Bayban bought a new stake in shares of RB Global in the 4th quarter valued at approximately $34,000. Institutional investors own 95.37% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on RBA shares. National Bank Financial raised their price objective on shares of RB Global from $132.00 to $133.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Weiss Ratings downgraded RB Global from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, August 17th. Raymond James Financial raised RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 price target for the company in a report on Tuesday, June 30th. Barclays decreased their price objective on RB Global from $124.00 to $121.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Finally, Royal Bank Of Canada boosted their price objective on RB Global from $150.00 to $152.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $128.00.
Read Our Latest Stock Report on RBA
About RB Global
(
Get Free Report)
RB Global, Inc (NYSE: RBA) operates a global marketplace for the sale and management of used equipment, vehicles and other commercial assets. The company serves construction, transportation, agriculture, energy, government and other industrial sectors, helping businesses buy, sell, manage and value assets through digital and physical channels.
Its services include unreserved live and online auctions, timed auctions, private sales, equipment listings, inspections, valuations, financing and asset-management solutions.
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