Alliancebernstein L.P. Lowers Stock Position in RB Global, Inc. (NYSE:RBA)

Alliancebernstein L.P. decreased its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250,346 shares of the business services provider’s stock after selling 3,389 shares during the quarter. Alliancebernstein L.P.’s holdings in RB Global were worth $22,584,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Central Pacific Bank Trust Division acquired a new position in RB Global in the fourth quarter valued at $27,000. Versant Capital Management Inc increased its position in 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 period. Jones Financial Companies Lllp raised its stake in RB Global by 49.4% during 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 during the last quarter. Proficio Capital Partners LLC acquired a new stake in RB Global during the 4th quarter worth approximately $36,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of RB Global in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on RBA. Raymond James increased their price target on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. StockNews.com downgraded shares of RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Royal Bank of Canada increased their price target on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. CIBC dropped their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. Finally, BMO Capital Markets increased their target price on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $107.64.

RB Global Stock Performance

RBA opened at $90.53 on Tuesday. The stock’s 50 day simple moving average is $97.20 and its 200 day simple moving average is $92.00. The stock has a market cap of $16.73 billion, a P/E ratio of 45.04, a P/E/G ratio of 4.95 and a beta of 0.90. RB Global, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share 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 analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the business earned $0.82 EPS. As a group, equities analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Friday, February 14th. RB Global’s dividend payout ratio (DPR) is presently 57.71%.

Insider Activity

In other news, CEO James Francis Kessler sold 15,700 shares of the company’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 directly owns 107,569 shares in the company, valued at $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO James J. Jeter sold 7,597 shares of RB Global stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.85, for a total value of $743,366.45. Following the sale, the executive now owns 20,267 shares of the company’s stock, valued at approximately $1,983,125.95. This represents a 27.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,897 shares of company stock worth $2,338,161 over the last ninety days. 4.32% of the stock is currently owned by insiders.

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.