RB Global, Inc. (NYSE:RBA) Short Interest Update

RB Global, Inc. (NYSE:RBA) (TSE:RBA) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 4,810,000 shares, a drop of 21.7% from the September 15th total of 6,140,000 shares. Approximately 2.6% of the company’s shares are short sold. Based on an average trading volume of 773,900 shares, the short-interest ratio is presently 6.2 days.

Insider Transactions at RB Global

In related news, CRO James J. Jeter sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total value of $256,650.00. Following the completion of the sale, the executive now owns 20,267 shares in the company, valued at approximately $1,733,841.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $82.80, for a total transaction of $241,362.00. Following the completion of the sale, the insider now directly owns 19,271 shares in the company, valued at approximately $1,595,638.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO James J. Jeter sold 3,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.55, for a total value of $256,650.00. Following the completion of the transaction, the executive now owns 20,267 shares in the company, valued at $1,733,841.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,601 shares of company stock valued at $3,720,043 over the last ninety days. Corporate insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in shares of RB Global in the first quarter worth about $33,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of RB Global by 58.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after buying an additional 165 shares during the last quarter. UMB Bank n.a. boosted its position in shares of RB Global by 196.0% in the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 388 shares during the period. Quarry LP acquired a new stake in shares of RB Global in the second quarter worth $53,000. Finally, Nisa Investment Advisors LLC increased its position in RB Global by 33.5% during the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after acquiring an additional 210 shares during the period. Institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RBA shares. Raymond James boosted their price objective on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Royal Bank of Canada boosted their price target on shares of RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. CIBC began coverage on RB Global in a report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price objective for the company. Robert W. Baird boosted their target price on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets started coverage on RB Global in a research note on Thursday, September 5th. They set an “outperform” rating and a $105.00 price target for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, RB Global presently has an average rating of “Moderate Buy” and a consensus price target of $92.19.

RB Global Stock Down 0.3 %

Shares of NYSE:RBA traded down $0.25 on Tuesday, reaching $80.80. The company had a trading volume of 1,583,158 shares, compared to its average volume of 1,036,346. The stock has a market capitalization of $14.77 billion, a P/E ratio of 48.67, a P/E/G ratio of 5.27 and a beta of 0.93. The stock has a 50-day moving average price of $82.55 and a 200 day moving average price of $78.28. RB Global has a twelve month low of $58.85 and a twelve month high of $87.45. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business earned $0.42 earnings per share. The company’s revenue was down .9% on a year-over-year basis. On average, equities analysts expect that RB Global will post 1.92 EPS for the current year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were paid a $0.29 dividend. The ex-dividend date was Wednesday, August 28th. This is a positive change from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 1.44%. RB Global’s dividend payout ratio (DPR) is presently 69.88%.

About RB Global

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.