Modern Wealth Management LLC Makes New Investment in RB Global, Inc. (NYSE:RBA)

Modern Wealth Management LLC bought a new position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,764 shares of the business services provider's stock, valued at approximately $258,000.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in RB Global during the fourth quarter worth about $266,148,000. Vontobel Holding Ltd. raised its position 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 valued at $762,378,000 after acquiring an additional 753,700 shares during the period. National Bank of Canada FI boosted its stake in RB Global by 309.6% during the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider's stock worth $65,014,000 after acquiring an additional 610,843 shares during the last quarter. FMR LLC grew its holdings in RB Global by 60.5% during the third quarter. FMR LLC now owns 1,180,975 shares of the business services provider's stock valued at $95,057,000 after purchasing an additional 445,004 shares during the period. Finally, Vanguard Group Inc. increased its stake in 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 in the last quarter. Institutional investors own 95.37% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. StockNews.com lowered RB Global from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. BMO Capital Markets lifted their price target on shares of RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. CIBC lowered their price objective on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada boosted 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, Raymond James increased 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $107.64.

Insider Activity

In related 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 transaction, the chief executive officer now directly owns 107,569 shares of the company's stock, valued at approximately $10,521,323.89. The trade was a 12.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 7,597 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.85, for a total value of $743,366.45. Following the sale, the executive now directly owns 20,267 shares of the company's stock, valued at $1,983,125.95. This represents a 27.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,897 shares of company stock valued at $2,338,161. 4.32% of the stock is owned by company insiders.

RB Global Stock Up 0.0 %

RBA traded up $0.04 on Wednesday, hitting $100.41. 141,630 shares of the company were exchanged, compared to its average volume of 1,043,783. The stock's fifty day moving average is $96.80 and its 200-day moving average is $91.70. RB Global, Inc. has a 12 month low of $69.83 and a 12 month 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 company has a market cap of $18.55 billion, a PE ratio of 49.92, a PEG ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 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 period in the previous year, the company posted $0.82 EPS. Equities research analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

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 $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, February 14th. RB Global's dividend payout ratio (DPR) is presently 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.