NFJ Investment Group LLC Sells 34,944 Shares of RB Global, Inc. (NYSE:RBA)

NFJ Investment Group LLC reduced its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 341,950 shares of the business services provider's stock after selling 34,944 shares during the quarter. RB Global accounts for approximately 1.0% of NFJ Investment Group LLC's holdings, making the stock its 24th biggest position. NFJ Investment Group LLC owned 0.19% of RB Global worth $30,847,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mariner LLC raised its stake in shares of RB Global by 32.4% in the fourth quarter. Mariner LLC now owns 48,124 shares of the business services provider's stock valued at $4,341,000 after purchasing an additional 11,767 shares in the last quarter. Barclays PLC raised its stake in shares of RB Global by 162.8% in the 4th quarter. Barclays PLC now owns 102,717 shares of the business services provider's stock valued at $9,267,000 after buying an additional 63,624 shares in the last quarter. Seeds Investor LLC lifted its holdings in shares of RB Global by 32.0% during the 4th quarter. Seeds Investor LLC now owns 4,590 shares of the business services provider's stock worth $414,000 after acquiring an additional 1,112 shares during the period. Sterling Capital Management LLC boosted its position in shares of RB Global by 55.5% during the 4th quarter. Sterling Capital Management LLC now owns 10,853 shares of the business services provider's stock valued at $979,000 after acquiring an additional 3,873 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in RB Global by 18.4% in the fourth quarter. Treasurer of the State of North Carolina now owns 94,755 shares of the business services provider's stock valued at $8,548,000 after acquiring an additional 14,740 shares during the period. Institutional investors own 95.37% of the company's stock.

RB Global Price Performance

RBA traded up $0.90 during midday trading on Friday, hitting $97.48. The company had a trading volume of 835,270 shares, compared to its average volume of 1,075,953. RB Global, Inc. has a twelve month low of $69.83 and a twelve month high of $106.90. The firm's 50-day simple moving average is $98.15 and its 200-day simple moving average is $92.69. The company has a market capitalization of $18.02 billion, a PE ratio of 48.50, a P/E/G ratio of 4.95 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its earnings results 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). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the business posted $0.82 earnings per share. Equities research analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, February 14th. RB Global's dividend payout ratio (DPR) is 57.71%.

Insider Buying and Selling at RB Global

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of the firm'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 transaction, the chief executive officer now owns 107,569 shares in the company, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 dated Friday, March 21st. The shares were 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 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 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. 4.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RBA has been the subject of a number of analyst reports. Robert W. Baird raised their price target on shares of RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. StockNews.com downgraded RB Global from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. National Bankshares dropped their price objective on RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. BMO Capital Markets upped their target price 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. Finally, CIBC cut their price target 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. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, RB Global currently has a consensus rating of "Moderate Buy" and an average 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.