Pictet Asset Management Holding SA Raises Holdings in RB Global, Inc. (NYSE:RBA)

Pictet Asset Management Holding SA increased its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 16.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 100,318 shares of the business services provider's stock after acquiring an additional 13,836 shares during the quarter. Pictet Asset Management Holding SA owned about 0.05% of RB Global worth $9,050,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. New Age Alpha Advisors LLC bought a new position in shares of RB Global during the 4th quarter valued at about $3,638,000. Norges Bank purchased a new stake in shares of RB Global in the fourth quarter worth about $209,931,000. Blair William & Co. IL boosted its stake in RB Global by 0.8% during the fourth quarter. Blair William & Co. IL now owns 811,401 shares of the business services provider's stock valued at $73,197,000 after buying an additional 6,445 shares during the last quarter. WINTON GROUP Ltd purchased a new position in RB Global during the 4th quarter valued at approximately $484,000. Finally, Korea Investment CORP increased its stake in RB Global by 90.3% in the 4th quarter. Korea Investment CORP now owns 99,702 shares of the business services provider's stock worth $8,994,000 after acquiring an additional 47,300 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Trading Down 1.4 %

Shares of NYSE:RBA traded down $1.28 during trading hours on Monday, hitting $90.53. 1,535,094 shares of the company's stock traded hands, compared to its average volume of 1,056,195. The firm has a market capitalization of $16.73 billion, a P/E ratio of 45.04, a price-to-earnings-growth ratio of 4.95 and a beta of 0.90. The business has a fifty day moving average price of $97.20 and a 200-day moving average price of $92.00. RB Global, Inc. has a 1 year low of $69.83 and a 1 year high of $106.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the previous year, the firm earned $0.82 EPS. Equities analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Friday, February 14th. RB Global's payout ratio is presently 57.71%.

Insider Buying and Selling

In other RB Global news, CRO James J. Jeter sold 600 shares of the firm's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $98.63, for a total transaction of $59,178.00. Following the transaction, the executive now directly owns 19,667 shares in the company, valued at $1,939,756.21. This trade represents a 2.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the sale, the chief executive officer now directly owns 107,569 shares of the company's stock, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,897 shares of company stock valued at $2,338,161 in the last 90 days. Company insiders own 4.32% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RBA shares. Robert W. Baird boosted their price target on shares of RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Raymond James boosted their target price 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. CIBC lowered 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. BMO Capital Markets upped their price objective on RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada lifted their target price on RB Global from $107.00 to $116.00 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 MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.