Modern Wealth Management LLC Purchases Shares of 2,764 RB Global, Inc. (NYSE:RBA)

Modern Wealth Management LLC bought a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,764 shares of the business services provider’s stock, valued at approximately $258,000.

Other institutional investors have also added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new stake in shares of RB Global during the 4th quarter worth $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 worth $28,000 after acquiring an additional 176 shares during the period. Jones Financial Companies Lllp boosted its stake 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 acquiring an additional 129 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of RB Global during the 4th quarter valued at approximately $36,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of RB Global during the 4th quarter worth approximately $37,000. 95.37% of the stock is owned by institutional investors.

Insider Buying and Selling

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the sale, the chief executive officer now directly owns 107,569 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. Also, CRO James J. Jeter sold 600 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $98.63, for a total transaction of $59,178.00. Following the completion of the transaction, the executive now directly owns 19,667 shares in the company, valued at $1,939,756.21. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,897 shares of company stock worth $2,338,161 over the last ninety days. 4.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on RBA. Robert W. Baird upped their price objective on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. CIBC cut their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada lifted their price objective on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. StockNews.com downgraded shares of RB Global from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Raymond James lifted their target price 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.64.

RB Global Trading Down 2.4 %

Shares of RBA opened at $97.90 on Friday. RB Global, Inc. has a twelve month low of $69.83 and a twelve month high of $106.90. The stock has a market cap of $18.09 billion, a PE ratio of 48.70, a P/E/G ratio of 4.95 and a beta of 0.94. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $96.38 and its 200-day moving average price is $91.38.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results 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 during 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 quarter in the prior year, the company earned $0.82 earnings per share. On average, equities 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. Investors of record on Friday, February 14th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.18%. The ex-dividend date was Friday, February 14th. RB Global’s dividend payout ratio is 57.71%.

RB Global Profile

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.