Fmr LLC Acquires 1,623,429 Shares of RB Global, Inc. (NYSE:RBA)

FMR LLC lifted its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 137.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,804,404 shares of the business services provider's stock after acquiring an additional 1,623,429 shares during the period. FMR LLC owned 1.52% of RB Global worth $252,985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in RBA. Raymond James Financial Inc. bought a new stake in shares of RB Global in the 4th quarter worth $266,148,000. Norges Bank acquired a new stake in RB Global in the 4th quarter valued at about $209,931,000. Vontobel Holding Ltd. grew 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 worth $762,378,000 after purchasing an additional 753,700 shares during the last quarter. Vanguard Group Inc. lifted its stake in RB Global by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock valued at $2,248,060,000 after purchasing an additional 358,752 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of RB Global by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider's stock worth $357,434,000 after acquiring an additional 264,778 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

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RB Global Stock Performance

Shares of NYSE:RBA traded up $0.70 during midday trading on Thursday, hitting $97.28. The company's stock had a trading volume of 213,222 shares, compared to its average volume of 1,069,066. RB Global, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. 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 stock has a market capitalization of $17.98 billion, a price-to-earnings ratio of 48.54, a PEG ratio of 4.95 and a beta of 0.90. The stock's 50 day simple moving average is $98.07 and its 200 day simple moving average is $92.57.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS 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 business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm earned $0.82 earnings per share. As a group, 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 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Friday, February 14th. RB Global's dividend payout ratio is presently 57.71%.

Wall Street Analysts Forecast Growth

RBA has been the subject of a number of analyst reports. Raymond James upped their price objective on shares of RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Royal Bank of Canada lifted their target price on 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 lowered shares of RB Global from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. BMO Capital Markets boosted their price objective on shares of RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, National Bankshares cut their target price on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $108.56.

Insider Buying and Selling

In other RB Global news, CRO James J. Jeter sold 600 shares of RB Global 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 of the company's stock, valued at approximately $1,939,756.21. This trade represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Francis Kessler sold 15,700 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly owns 107,569 shares in the company, valued at approximately $10,521,323.89. The trade was a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,897 shares of company stock valued at $2,338,161 over the last quarter. Corporate insiders own 4.32% of the company's stock.

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.