Korea Investment CORP Purchases 47,300 Shares of RB Global, Inc. (NYSE:RBA)

Korea Investment CORP grew its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 90.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,702 shares of the business services provider's stock after purchasing an additional 47,300 shares during the period. Korea Investment CORP owned about 0.05% of RB Global worth $8,994,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Citigroup Inc. grew its position in RB Global by 7.7% during the 3rd quarter. Citigroup Inc. now owns 51,792 shares of the business services provider's stock worth $4,173,000 after acquiring an additional 3,682 shares during the last quarter. Cerity Partners LLC increased its stake in shares of RB Global by 89.7% in the third quarter. Cerity Partners LLC now owns 8,844 shares of the business services provider's stock valued at $712,000 after buying an additional 4,182 shares during the period. FMR LLC raised its holdings in RB Global by 60.5% in the 3rd quarter. FMR LLC now owns 1,180,975 shares of the business services provider's stock valued at $95,057,000 after buying an additional 445,004 shares during the last quarter. Glenmede Trust Co. NA boosted its position in RB Global by 37.8% during the 3rd quarter. Glenmede Trust Co. NA now owns 4,292 shares of the business services provider's stock worth $345,000 after buying an additional 1,178 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in RB Global by 86.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,533 shares of the business services provider's stock worth $5,602,000 after acquiring an additional 32,235 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

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RB Global Trading Down 2.8 %

Shares of RBA stock traded down $2.83 during trading hours on Thursday, hitting $98.11. 1,284,266 shares of the company were exchanged, compared to its average volume of 1,050,200. 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, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. The company has a 50 day simple moving average of $97.02 and a two-hundred day simple moving average of $91.76. The firm has a market cap of $18.13 billion, a P/E ratio of 48.81, a P/E/G ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the company posted $0.82 EPS. Equities analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current 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 issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.18%. RB Global's dividend payout ratio (DPR) is currently 57.71%.

Wall Street Analysts Forecast Growth

RBA has been the subject of several analyst reports. StockNews.com downgraded shares of RB Global from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. CIBC cut their target price on RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a report on Monday, February 3rd. Robert W. Baird increased their price target on RB Global from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Royal Bank of Canada lifted their price objective on RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, Raymond James increased their target price on shares of RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $107.64.

Insiders Place Their Bets

In other RB Global news, CRO James J. Jeter sold 600 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $98.63, for a total value of $59,178.00. Following the completion of the transaction, the executive now owns 19,667 shares in the company, valued at $1,939,756.21. This trade represents a 2.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of the company'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 sale, the chief executive officer now directly owns 107,569 shares in the company, valued at $10,521,323.89. This trade represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,897 shares of company stock valued at $2,338,161. Company insiders own 4.32% of the company's stock.

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.