Geode Capital Management LLC Acquires 264,778 Shares of RB Global, Inc. (NYSE:RBA)

Geode Capital Management LLC lifted its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 7.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,967,159 shares of the business services provider's stock after purchasing an additional 264,778 shares during the quarter. Geode Capital Management LLC owned about 2.15% of RB Global worth $357,434,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new stake in RB Global during the fourth quarter worth about $27,000. Versant Capital Management Inc increased its position 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 worth $28,000 after purchasing an additional 176 shares in the last quarter. Jones Financial Companies Lllp raised its holdings 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 buying an additional 129 shares during the period. Proficio Capital Partners LLC acquired a new position in RB Global during the fourth quarter valued at approximately $36,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of RB Global in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 95.37% of the company's stock.

RB Global Stock Performance

Shares of RBA traded down $2.83 during mid-day trading on Thursday, hitting $93.27. The stock had a trading volume of 205,888 shares, compared to its average volume of 1,120,789. 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 company's fifty day simple moving average is $97.39 and its two-hundred day simple moving average is $92.12. 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 market cap of $17.24 billion, a PE ratio of 46.47, a PEG ratio of 4.95 and a beta of 0.90.

RB Global (NYSE:RBA - Get Free Report) 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 analysts' consensus estimates of $0.81 by ($0.23). The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same quarter in the previous year, the business posted $0.82 earnings per share. On average, equities analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.24%. RB Global's payout ratio is 57.71%.

Insider Activity

In other news, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO James J. Jeter sold 600 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $98.63, for a total transaction of $59,178.00. Following 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,897 shares of company stock valued at $2,338,161. Company insiders own 4.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. National Bankshares decreased their price target 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. CIBC decreased their target price on RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a research report on Monday, February 3rd. Raymond James boosted their price target on RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Royal Bank of Canada increased their price objective on shares of RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, StockNews.com lowered shares of RB Global from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $108.56.

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.