RB Global, Inc. (NYSE:RBA) Stock Position Reduced by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,298 shares of the business services provider’s stock after selling 723 shares during the period. Federated Hermes Inc.’s holdings in RB Global were worth $1,651,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new position in shares of RB Global in the fourth quarter valued at approximately $27,000. Versant Capital Management Inc increased its holdings in shares of RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after purchasing an additional 176 shares during the period. Jones Financial Companies Lllp raised its holdings in RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 129 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of RB Global in the fourth quarter valued at $36,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of RB Global in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

RBA has been the subject of several analyst reports. National Bankshares cut their target price 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 target price on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. BMO Capital Markets raised their price target on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. StockNews.com lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, Royal Bank of Canada upped their price target 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 MarketBeat.com, RB Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.56.

Insiders Place Their Bets

In other RB Global news, CRO James J. Jeter sold 7,597 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the completion of the sale, the executive now owns 20,267 shares of the company’s stock, valued at $1,983,125.95. This trade represents a 27.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares in the company, valued at approximately $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,897 shares of company stock valued at $2,338,161. 4.32% of the stock is currently owned by corporate insiders.

RB Global Price Performance

RBA stock opened at $97.84 on Tuesday. The stock has a 50-day moving average price of $97.87 and a two-hundred day moving average price of $92.51. RB Global, Inc. has a 1 year low of $69.83 and a 1 year high of $106.90. The stock has a market cap of $18.08 billion, a PE ratio of 48.68, a price-to-earnings-growth ratio of 4.95 and a beta of 0.90. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA) (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 analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the business earned $0.82 earnings per share. Equities analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, February 14th. RB Global’s dividend payout ratio is currently 57.71%.

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.