RB Global, Inc. (NYSE:RBA) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 250,346 shares of the business services provider’s stock after selling 3,389 shares during the quarter. Alliancebernstein L.P. owned about 0.14% of RB Global worth $22,584,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of RBA. Central Pacific Bank Trust Division acquired a new position in shares of RB Global in the 4th quarter worth approximately $27,000. Versant Capital Management Inc raised its position in RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 176 shares during the period. Jones Financial Companies Lllp raised its position in RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 129 shares during the period. Whipplewood Advisors LLC acquired a new position in RB Global during the fourth quarter worth $37,000. Finally, Geneos Wealth Management Inc. purchased a new position in shares of RB Global during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Activity

In related news, CEO James Francis Kessler sold 15,700 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the sale, the chief executive officer now directly owns 107,569 shares of the company’s stock, valued at $10,521,323.89. The trade was a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO James J. Jeter sold 7,597 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.85, for a total transaction of $743,366.45. Following the completion of the transaction, the executive now owns 20,267 shares of the company’s stock, valued at $1,983,125.95. This represents a 27.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,897 shares of company stock worth $2,338,161. 4.32% of the stock is currently owned by insiders.

RB Global Stock Down 1.4 %

Shares of RB Global stock opened at $90.53 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a 52-week low of $69.83 and a 52-week high of $106.90. The company has a market capitalization of $16.73 billion, a P/E ratio of 45.04, a P/E/G ratio of 4.95 and a beta of 0.90. The company has a 50 day moving average of $97.20 and a 200 day moving average of $92.00.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.23). The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period last year, the firm posted $0.82 earnings per share. As a group, research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.28%. RB Global’s dividend payout ratio is currently 57.71%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RBA. BMO Capital Markets boosted their price objective on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Raymond James boosted their price target on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Royal Bank of Canada raised their price objective on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com cut shares of RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, Robert W. Baird increased their target price on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.64.

About RB Global

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.