Insider Buying: RB Global, Inc. (NYSE:RBA) Director Buys $58,080.00 in Stock

Posted by Defense World Staff on Aug 14th, 2023

RB Global, Inc. (NYSE:RBA – Get Free Report) (TSE:RBA) Director Michael D. Sieger bought 1,000 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were acquired at an average price of $58.08 per share, for a total transaction of $58,080.00. Following the completion of the transaction, the director now owns 3,036 shares in the company, valued at approximately $176,330.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

RB Global Stock Up 0.1 %

RB Global stock opened at $58.00 on Monday. RB Global, Inc. has a twelve month low of $48.72 and a twelve month high of $71.96. The company’s 50-day moving average price is $59.51 and its two-hundred day moving average price is $58.26. The company has a quick ratio of 1.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.63. The stock has a market cap of $10.56 billion, a P/E ratio of 63.04, a P/E/G ratio of 6.63 and a beta of 0.94.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 23rd will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.86%. The ex-dividend date is Tuesday, August 22nd. RB Global’s dividend payout ratio (DPR) is 117.39%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV increased its stake in RB Global by 380.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 812 shares of the business services provider’s stock worth $46,000 after acquiring an additional 643 shares during the period. Hollencrest Capital Management bought a new stake in RB Global during the fourth quarter worth about $48,000. Belpointe Asset Management LLC grew its stake in RB Global by 134.7% during the first quarter. Belpointe Asset Management LLC now owns 913 shares of the business services provider’s stock worth $51,000 after buying an additional 524 shares in the last quarter. International Assets Investment Management LLC bought a new position in RB Global in the 1st quarter valued at about $57,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in shares of RB Global in the 1st quarter valued at approximately $57,000. Institutional investors and hedge funds own 89.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com upgraded shares of RB Global from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Raymond James raised RB Global from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $60.00 to $75.00 in a research note on Thursday, July 20th. Royal Bank of Canada lifted their price target on shares of RB Global from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, August 8th. National Bank Financial boosted their price objective on shares of RB Global from $61.00 to $70.00 in a research report on Monday, July 10th. Finally, National Bankshares raised RB Global from a “sector perform” rating to an “outperform” rating and set a $61.00 price objective for the company in a research report on Thursday, May 18th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, RB Global presently has an average rating of “Moderate Buy” and a consensus price target of $66.25.

Get Our Latest Analysis on RB Global

About RB Global

(Get Free Report)

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; Xcira that provides live simulcast auction technologies; and Veritread, an online marketplace for heavy haul transport solution.