Norges Bank Invests $209.93 Million in RB Global, Inc. (NYSE:RBA)

Norges Bank acquired a new position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,328,125 shares of the business services provider's stock, valued at approximately $209,931,000. Norges Bank owned about 1.26% of RB Global at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of RB Global by 1.5% during 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. Vontobel Holding Ltd. boosted its stake in 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 purchasing an additional 753,700 shares during the period. State Street Corp grew its holdings in shares of RB Global by 2.1% during the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider's stock valued at $406,087,000 after buying an additional 103,080 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 worth $297,400,000 after acquiring an additional 108,188 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in RB Global by 0.7% during the 3rd quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider's stock worth $272,293,000 after acquiring an additional 24,101 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other RB Global news, CRO James J. Jeter sold 600 shares of RB Global 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 owns 19,667 shares in the company, valued at $1,939,756.21. The trade was a 2.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the firm'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 in the company, valued at $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,897 shares of company stock valued at $2,338,161. 4.32% of the stock is owned by insiders.

RB Global Trading Down 4.0 %

RBA stock traded down $3.89 during midday trading on Friday, reaching $94.15. The stock had a trading volume of 212,105 shares, compared to its average volume of 1,048,748. 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 twelve month low of $69.83 and a twelve month high of $106.90. The business has a fifty day simple moving average of $97.18 and a two-hundred day simple moving average of $91.81. The firm has a market cap of $17.39 billion, a price-to-earnings ratio of 46.53, a PEG ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings data 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). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period in the prior year, the firm earned $0.82 EPS. As a group, research analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Friday, February 14th. RB Global's payout ratio is currently 57.71%.

Wall Street Analyst Weigh In

Several research firms have recently commented on RBA. CIBC lowered their price target on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada raised 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. 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 research note on Wednesday, February 19th. StockNews.com downgraded shares of RB Global from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Finally, Raymond James boosted their price objective on shares of RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $107.64.

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.