FIL Ltd Buys 424,060 Shares of RB Global, Inc. (NYSE:RBA)

FIL Ltd raised its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 26.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,030,696 shares of the business services provider's stock after buying an additional 424,060 shares during the quarter. FIL Ltd owned 1.10% of RB Global worth $183,189,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Invesco Ltd. raised its holdings in shares of RB Global by 5.9% during the fourth quarter. Invesco Ltd. now owns 1,919,431 shares of the business services provider's stock worth $173,152,000 after acquiring an additional 106,627 shares in the last quarter. Bank of Montreal Can raised its stake in shares of RB Global by 6.7% during the 4th quarter. Bank of Montreal Can now owns 1,090,789 shares of the business services provider's stock worth $98,325,000 after purchasing an additional 68,423 shares in the last quarter. FMR LLC grew its stake in shares of RB Global by 137.5% in the 4th quarter. FMR LLC now owns 2,804,404 shares of the business services provider's stock valued at $252,985,000 after buying an additional 1,623,429 shares in the last quarter. Wells Fargo & Company MN increased its holdings in RB Global by 2.3% in the fourth quarter. Wells Fargo & Company MN now owns 60,458 shares of the business services provider's stock worth $5,454,000 after buying an additional 1,386 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in RB Global by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider's stock worth $357,434,000 after buying an additional 264,778 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

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RB Global Stock Performance

RBA traded up $0.83 during midday trading on Monday, reaching $97.95. The company's stock had a trading volume of 159,687 shares, compared to its average volume of 1,069,767. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $97.69 and a 200 day simple moving average of $92.38. The stock has a market cap of $18.10 billion, a P/E ratio of 48.73, a PEG ratio of 4.95 and a beta of 0.90. RB Global, Inc. has a twelve month low of $69.83 and a twelve month high of $106.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its earnings results 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 return on equity of 8.00% and a net margin of 9.64%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm posted $0.82 EPS. Research analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Friday, February 14th. RB Global's payout ratio is presently 57.71%.

Insider Buying and Selling

In related news, CEO James Francis Kessler sold 15,700 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares of the company's stock, valued at $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO James J. Jeter sold 600 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $98.63, for a total transaction of $59,178.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 23,897 shares of company stock valued at $2,338,161 over the last three months. 4.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on RBA. CIBC decreased their target price 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. StockNews.com downgraded shares of RB Global from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. National Bankshares reduced their price target on RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Raymond James upped their price target on RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada raised their price objective on RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, RB Global has a consensus rating of "Moderate Buy" and a consensus price target of $108.56.

RB Global 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.