JPMorgan Chase & Co. Reduces Holdings in RB Global, Inc. (NYSE:RBA)

JPMorgan Chase & Co. trimmed its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 25.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 994,190 shares of the business services provider's stock after selling 347,628 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.54% of RB Global worth $89,686,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of RB Global by 1.5% in 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 period. Vontobel Holding Ltd. lifted its holdings 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 acquiring an additional 753,700 shares during the last quarter. State Street Corp boosted its position in shares of RB Global by 2.1% during the 3rd quarter. State Street Corp now owns 5,045,188 shares of the business services provider's stock worth $406,087,000 after purchasing an additional 103,080 shares during the period. Geode Capital Management LLC increased its holdings in RB Global by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider's stock valued at $297,400,000 after purchasing an additional 108,188 shares during the last quarter. Finally, Boston Partners raised its position in RB Global by 6.9% in the fourth quarter. Boston Partners now owns 3,308,977 shares of the business services provider's stock valued at $298,500,000 after purchasing an additional 214,181 shares during the period. Hedge funds and other institutional investors own 95.37% of the company's stock.

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Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of the business'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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO James J. Jeter sold 600 shares of the company's stock in a transaction that occurred 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 sale, the executive now owns 19,667 shares in the company, valued at approximately $1,939,756.21. This represents a 2.96 % 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 valued at $2,338,161 over the last quarter. Company insiders own 4.32% of the company's stock.

Analyst Upgrades and Downgrades

RBA has been the subject of a number of research reports. StockNews.com cut RB Global from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. CIBC dropped 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 increased their price target on shares of RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. BMO Capital Markets lifted their price objective on shares of RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, Robert W. Baird increased their target price on shares of RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $107.64.

RB Global Stock Down 1.3 %

RB Global stock traded down $1.14 during trading on Tuesday, reaching $89.42. The stock had a trading volume of 1,346,072 shares, compared to its average volume of 1,059,736. 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 stock has a market cap of $16.53 billion, a PE ratio of 44.49, a P/E/G ratio of 4.95 and a beta of 0.90. The business has a 50 day moving average price of $97.16 and a 200 day moving average price of $92.02.

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 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 firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. On average, analysts predict that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid 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 yield of 1.30%. RB Global's dividend payout ratio is presently 57.71%.

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.