RB Global, Inc. (NYSE:RBA) Plans $0.29 Quarterly Dividend

RB Global, Inc. (NYSE:RBA) (TSE:RBA) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Wednesday, November 27th will be given a dividend of 0.29 per share by the business services provider on Wednesday, December 18th. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Wednesday, November 27th.

RB Global has raised its dividend by an average of 8.7% annually over the last three years and has raised its dividend every year for the last 20 years. RB Global has a dividend payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect RB Global to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 46.4%.

RB Global Trading Up 0.2 %

RBA opened at $97.99 on Monday. The stock has a market capitalization of $18.07 billion, a price-to-earnings ratio of 53.16, a P/E/G ratio of 4.70 and a beta of 0.92. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. RB Global has a twelve month low of $60.84 and a twelve month high of $97.99. The company has a 50-day simple moving average of $85.55 and a 200 day simple moving average of $81.29.

Insider Activity

In other news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the transaction, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. This trade represents a 17.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. BMO Capital Markets upped their price target on shares of RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Royal Bank of Canada upped their target price on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Robert W. Baird raised their target price on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Raymond James boosted their price target on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Bank of America raised their price objective on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.36.

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.