Gabelli Funds LLC Sells 1,200 Shares of RB Global, Inc. (NYSE:RBA)

Gabelli Funds LLC reduced its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,000 shares of the business services provider’s stock after selling 1,200 shares during the period. Gabelli Funds LLC’s holdings in RB Global were worth $1,804,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RBA. Vanguard Group Inc. grew its position in shares of RB Global by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock valued at $2,248,060,000 after purchasing an additional 358,752 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in RB Global by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after buying an additional 753,700 shares in the last quarter. Geode Capital Management LLC increased its stake in RB Global by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider’s stock worth $357,434,000 after acquiring an additional 264,778 shares during the last quarter. Boston Partners raised its holdings in shares of RB Global by 6.9% during the 4th quarter. Boston Partners now owns 3,308,977 shares of the business services provider’s stock worth $298,500,000 after acquiring an additional 214,181 shares in the last quarter. Finally, Fiera Capital Corp boosted its position in shares of RB Global by 4.1% during the 4th quarter. Fiera Capital Corp now owns 3,216,507 shares of the business services provider’s stock valued at $290,000,000 after acquiring an additional 125,275 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. CIBC reduced their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets upped their target price on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com lowered RB Global from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Royal Bank of Canada upped their price objective on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Raymond James increased their price target on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $108.56.

Insider Activity

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

RB Global Stock Performance

RB Global stock opened at $97.48 on Friday. RB Global, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. The company has a market capitalization of $18.02 billion, a PE ratio of 48.50, a P/E/G ratio of 4.95 and a beta of 0.90. The company has a 50 day moving average price of $98.15 and a 200-day moving average price of $92.69. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.23). The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same quarter in the prior year, the company posted $0.82 earnings per share. As a group, equities analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

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

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.