RB Global, Inc. (NYSE:RBA) Announces $0.29 Quarterly Dividend

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Wednesday, November 27th will be paid a dividend of 0.29 per share by the business services provider on Wednesday, December 18th. This represents a $1.16 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Wednesday, November 27th.

RB Global has increased its dividend by an average of 8.7% annually over the last three years and has increased its dividend annually for the last 20 consecutive years. RB Global has a payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect RB Global to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 46.4%.

RB Global Price Performance

Shares of RBA stock traded up $0.89 on Monday, reaching $98.70. The company's stock had a trading volume of 433,791 shares, compared to its average volume of 1,012,257. The company has a market capitalization of $18.20 billion, a price-to-earnings ratio of 53.16, a price-to-earnings-growth ratio of 4.70 and a beta of 0.92. The stock's fifty day simple moving average is $85.55 and its 200-day simple moving average is $81.29. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. RB Global has a 1 year low of $60.84 and a 1 year high of $99.79.

Insider Buying and Selling

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the transaction, the chief executive officer now directly owns 86,247 shares of the company's stock, valued at approximately $7,261,134.93. The trade was a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on RB Global from $105.00 to $107.00 and gave the company an "outperform" rating in a research note on Monday, November 11th. Robert W. Baird boosted their price objective on shares of RB Global from $86.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Bank of America raised their target price on shares of RB Global from $79.00 to $92.50 and gave the stock a "neutral" rating in a report on Monday, August 26th. Raymond James upped their price target on shares of RB Global from $95.00 to $98.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada boosted their target price on RB Global from $99.00 to $107.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, RB Global presently has an average rating of "Moderate Buy" and a consensus price target of $98.36.

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.