Shell Asset Management Co. Cuts Stock Holdings in RB Global, Inc. (NYSE:RBA)

Shell Asset Management Co. decreased its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 42.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,576 shares of the business services provider’s stock after selling 9,300 shares during the period. Shell Asset Management Co.’s holdings in RB Global were worth $959,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RBA. YHB Investment Advisors Inc. acquired a new position in RB Global during the first quarter worth $27,000. Oakworth Capital Inc. increased its holdings in RB Global by 53.3% during the 4th quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 162 shares in the last quarter. Hollencrest Capital Management acquired a new position in RB Global during the first quarter worth about $33,000. GAMMA Investing LLC purchased a new stake in shares of RB Global in the fourth quarter valued at about $54,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of RB Global in the fourth quarter valued at about $72,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Up 0.8 %

Shares of RB Global stock opened at $79.17 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.58. RB Global, Inc. has a 12-month low of $55.54 and a 12-month high of $81.87. The firm has a market capitalization of $14.48 billion, a PE ratio of 47.69, a price-to-earnings-growth ratio of 5.37 and a beta of 0.91. The stock’s fifty day moving average is $77.36 and its 200-day moving average is $73.56.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.15. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 8.08% and a return on equity of 6.87%. Equities analysts anticipate that RB Global, Inc. will post 2.04 earnings per share for the current year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, May 29th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Wednesday, May 29th. RB Global’s dividend payout ratio (DPR) is 65.06%.

Insider Buying and Selling

In other RB Global news, CRO James J. Jeter sold 14,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $75.43, for a total value of $1,056,020.00. Following the completion of the sale, the executive now owns 28,267 shares in the company, valued at approximately $2,132,179.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CRO James J. Jeter sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $75.43, for a total value of $1,056,020.00. Following the completion of the sale, the executive now owns 28,267 shares of the company’s stock, valued at approximately $2,132,179.81. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Baron Concors sold 13,230 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $75.05, for a total value of $992,911.50. Following the completion of the transaction, the insider now owns 15,487 shares in the company, valued at approximately $1,162,299.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,867 shares of company stock worth $3,370,272. 4.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. CIBC assumed coverage on RB Global in a research report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price objective for the company. Scotiabank increased their price target on RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 24th. Finally, Bank of America lifted their price objective on RB Global from $68.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.50.

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.