Proficio Capital Partners LLC Makes New $36,000 Investment in RB Global, Inc. (NYSE:RBA)

Proficio Capital Partners LLC acquired a new stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 35,813 shares of the business services provider's stock, valued at approximately $36,000.

Several other large investors have also modified their holdings of RBA. Central Pacific Bank Trust Division purchased a new position in RB Global during the fourth quarter worth approximately $27,000. Diversified Trust Co increased its holdings in shares of RB Global by 48.9% during the 4th quarter. Diversified Trust Co now owns 63,119 shares of the business services provider's stock worth $5,694,000 after buying an additional 20,724 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in RB Global by 53.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider's stock valued at $4,805,000 after acquiring an additional 20,795 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in RB Global by 163.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider's stock worth $58,000 after acquiring an additional 400 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in shares of RB Global by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock valued at $762,378,000 after purchasing an additional 753,700 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other RB Global news, CRO James J. Jeter sold 600 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $98.63, for a total transaction of $59,178.00. Following the completion of the sale, the executive now directly owns 19,667 shares of the company's stock, valued at approximately $1,939,756.21. This represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares in the company, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,897 shares of company stock worth $2,338,161. 4.32% of the stock is owned by company insiders.

RB Global Stock Performance

NYSE:RBA traded up $0.58 during trading hours on Wednesday, reaching $100.95. 1,000,751 shares of the stock were exchanged, compared to its average volume of 1,049,269. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90. 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 stock has a market capitalization of $18.65 billion, a P/E ratio of 50.22, a P/E/G ratio of 4.95 and a beta of 0.94. The firm has a 50 day simple moving average of $97.02 and a 200-day simple moving average of $91.76.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. As a group, sell-side analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Friday, February 14th. RB Global's dividend payout ratio is currently 57.71%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. BMO Capital Markets raised their price target on shares of RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Raymond James upped their price target on shares of RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. CIBC cut their price objective on RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a research report on Monday, February 3rd. Robert W. Baird increased their target price on RB Global from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Finally, StockNews.com cut RB Global from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, RB Global has a consensus rating of "Moderate Buy" and an average price target 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.