RB Global, Inc. (NYSE:RBA) Holdings Reduced by Independent Franchise Partners LLP

Independent Franchise Partners LLP cut its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,663,962 shares of the business services provider's stock after selling 1,057,725 shares during the period. RB Global makes up 6.5% of Independent Franchise Partners LLP's holdings, making the stock its 4th largest position. Independent Franchise Partners LLP owned approximately 5.23% of RB Global worth $871,786,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new position in RB Global in the 4th quarter worth approximately $27,000. Versant Capital Management Inc increased its stake in shares of RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock worth $28,000 after acquiring an additional 176 shares during the period. Jones Financial Companies Lllp raised 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 worth $35,000 after purchasing an additional 129 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in RB Global during the fourth quarter valued at $37,000. Finally, Geneos Wealth Management Inc. purchased a new stake in RB Global in the fourth quarter valued at $40,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CRO James J. Jeter sold 600 shares of the 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 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 represents a 2.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 23,897 shares of company stock worth $2,338,161 over the last quarter. 4.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on RBA. National Bankshares decreased their price objective on RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. StockNews.com downgraded RB Global from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Royal Bank of Canada raised their price objective on shares of RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. CIBC cut their target price on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a report on Monday, February 3rd. Finally, BMO Capital Markets increased their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $108.56.

RB Global Price Performance

RB Global stock traded up $0.90 during trading on Thursday, reaching $97.48. The company had a trading volume of 835,270 shares, compared to its average volume of 1,071,458. The firm has a market capitalization of $18.02 billion, a PE ratio of 48.50, a price-to-earnings-growth ratio of 4.95 and a beta of 0.90. The firm's 50-day simple moving average is $98.07 and its 200 day simple moving average is $92.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. RB Global, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.23). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates 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 last year, the business earned $0.82 EPS. As a group, equities research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

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

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.