RB Global, Inc. (NYSE:RBA) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,834,933 shares of the business services provider's stock after selling 83,064 shares during the period. Wellington Management Group LLP owned approximately 0.99% of RB Global worth $165,529,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of RBA. Central Pacific Bank Trust Division acquired a new position in RB Global in the 4th quarter worth approximately $27,000. Versant Capital Management Inc boosted its holdings in shares of RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock valued at $28,000 after acquiring an additional 176 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after acquiring an additional 129 shares during the period. Whipplewood Advisors LLC purchased a new position in shares of RB Global during the fourth quarter worth $37,000. Finally, Geneos Wealth Management Inc. acquired a new position in RB Global during the fourth quarter valued at $40,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Price Performance

Shares of NYSE:RBA traded down $1.28 during midday trading on Monday, reaching $90.53. 1,535,094 shares of the company's stock traded hands, compared to its average volume of 1,056,195. The company has a fifty day simple moving average of $97.20 and a two-hundred day simple moving average 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 market cap of $16.73 billion, a P/E ratio of 45.04, a PEG ratio of 4.95 and a beta of 0.90. 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 (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 the consensus estimate of $0.81 by ($0.23). The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period in the previous year, the business earned $0.82 earnings per share. Equities analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

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

Insiders Place Their Bets

In other news, CRO James J. Jeter sold 7,597 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.85, for a total value of $743,366.45. Following the completion of the sale, the executive now directly owns 20,267 shares in the company, valued at $1,983,125.95. This represents a 27.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James Francis Kessler sold 15,700 shares of the business's stock in a transaction dated 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 owns 107,569 shares in the company, valued at $10,521,323.89. The trade was 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 sold 23,897 shares of company stock worth $2,338,161. Corporate insiders own 4.32% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. StockNews.com downgraded RB Global from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. CIBC reduced their price target on RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a research report on Monday, February 3rd. Robert W. Baird boosted their price target on RB Global from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Royal Bank of Canada raised their price objective on shares of RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, BMO Capital Markets boosted their target price on shares of RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Two investment 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.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $107.64.

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.