Corebridge Financial Inc. Sells 9,217 Shares of RB Global, Inc. (NYSE:RBA)

Corebridge Financial Inc. lowered its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,662 shares of the business services provider's stock after selling 9,217 shares during the period. Corebridge Financial Inc. owned 0.11% of RB Global worth $18,823,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of RB Global by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock valued at $2,248,060,000 after acquiring an additional 358,752 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of RB Global by 9.8% during the fourth 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. State Street Corp boosted its stake in shares of RB Global by 2.1% during the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider's stock valued at $406,087,000 after purchasing an additional 103,080 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of RB Global by 3.0% during the third quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider's stock worth $297,400,000 after purchasing an additional 108,188 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of RB Global by 0.7% in the third quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider's stock valued at $272,293,000 after buying an additional 24,101 shares during the period. Institutional investors own 95.37% of the company's stock.

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Analysts Set New Price Targets

RBA has been the topic of several recent research reports. Robert W. Baird lifted their target price on shares of RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. CIBC reduced their price objective on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a research note on Monday, February 3rd. BMO Capital Markets increased 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. Royal Bank of Canada lifted their target price on RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, Raymond James upped their price target on RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, RB Global presently has an average rating of "Moderate Buy" and a consensus price target of $107.64.

RB Global Trading Down 2.4 %

Shares of RBA stock traded down $2.39 during mid-day trading on Friday, hitting $97.90. The company's stock had a trading volume of 632,326 shares, compared to its average volume of 1,043,574. The company 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 debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The company's fifty day simple moving average is $96.38 and its 200-day simple moving average is $91.43. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its 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). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.82 earnings per share. As a group, equities research analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Friday, February 14th. RB Global's payout ratio is 57.71%.

Insider Buying and Selling at RB Global

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 107,569 shares in the company, valued at approximately $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO James J. Jeter sold 7,597 shares of RB Global stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.85, for a total transaction of $743,366.45. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,897 shares of company stock valued at $2,338,161. Corporate insiders own 4.32% of the company's stock.

RB Global Company 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.