RB Global, Inc. (NYSE:RBA) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 389,123 shares of the business services provider's stock after selling 10,986 shares during the period. Envestnet Asset Management Inc. owned about 0.21% of RB Global worth $35,103,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RBA. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of RB Global by 0.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider's stock valued at $3,674,000 after purchasing an additional 113 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of RB Global by 49.4% during 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 in the last quarter. Summit Trail Advisors LLC boosted its stake in RB Global by 4.6% during the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider's stock valued at $279,000 after purchasing an additional 137 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of RB Global by 25.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider's stock worth $64,000 after purchasing an additional 143 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock valued at $28,000 after acquiring an additional 176 shares during the period. Hedge funds and other institutional investors own 95.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RBA shares. CIBC decreased their price target on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets raised their price objective on RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Royal Bank of Canada upped 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. Raymond James lifted their target price on RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, Robert W. Baird raised their price objective on RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $108.56.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 15,700 shares of the business's 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 sale, the chief executive officer now owns 107,569 shares of the company's stock, valued at $10,521,323.89. The trade was a 12.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO James J. Jeter sold 600 shares of the business's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $98.63, for a total value of $59,178.00. Following the sale, the executive now owns 19,667 shares in the company, valued at approximately $1,939,756.21. The trade was a 2.96 % decrease in their ownership of the stock. 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 90 days. Corporate insiders own 4.32% of the company's stock.

RB Global Price Performance

Shares of RBA stock traded up $0.80 during mid-day trading on Thursday, hitting $97.38. 213,222 shares of the stock were exchanged, compared to its average volume of 1,069,061. 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 firm has a fifty day moving average of $98.07 and a 200 day moving average of $92.57. The company has a market cap of $18.00 billion, a PE ratio of 48.54, a price-to-earnings-growth ratio of 4.95 and a beta of 0.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings data 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 company had revenue of $1.14 billion for the quarter, compared to analyst estimates 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 posted $0.82 earnings per share. Research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Friday, February 14th. RB Global's dividend payout ratio (DPR) is 57.71%.

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.