Congress Wealth Management LLC DE Sells 765 Shares of RB Global, Inc. (NYSE:RBA)

Congress Wealth Management LLC DE trimmed its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 20.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,064 shares of the business services provider’s stock after selling 765 shares during the period. Congress Wealth Management LLC DE’s holdings in RB Global were worth $276,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Natixis Advisors LLC boosted its holdings in RB Global by 69.5% in the fourth quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider’s stock worth $1,703,000 after purchasing an additional 7,737 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of RB Global during the 4th quarter worth about $27,000. Diversified Trust Co increased its holdings in shares of RB Global by 48.9% during the 4th quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock valued at $5,694,000 after acquiring an additional 20,724 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of RB Global by 53.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock valued at $4,805,000 after acquiring an additional 20,795 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its holdings in RB Global by 163.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider’s stock worth $58,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Trading Down 2.4 %

Shares of RBA opened at $97.90 on Friday. The stock’s 50-day moving average price is $96.38 and its 200 day moving average price is $91.43. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $18.09 billion, a price-to-earnings ratio of 48.70, a P/E/G ratio of 4.95 and a beta of 0.94. RB Global, Inc. has a 12-month low of $69.83 and a 12-month high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, February 18th. The business services provider reported $0.58 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 firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. As a group, research analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, February 14th. RB Global’s payout ratio is 57.71%.

Insider Activity

In related news, CEO James Francis Kessler sold 15,700 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the sale, the chief executive officer now owns 107,569 shares of the company’s stock, valued at $10,521,323.89. The trade was a 12.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO James J. Jeter sold 7,597 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.85, for a total value of $743,366.45. Following the transaction, the executive now owns 20,267 shares of the company’s stock, valued at $1,983,125.95. This represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,897 shares of company stock worth $2,338,161. Corporate insiders own 4.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. CIBC cut their target price on shares of 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 upped their price target on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. StockNews.com cut RB Global from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, BMO Capital Markets raised their target price on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Two research 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, RB Global presently has an average rating of “Moderate Buy” and a consensus 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.