RB Global (NYSE:RBA) Shares Down 12.8% – Should You Sell?

RB Global, Inc. (NYSE:RBA) (TSE:RBA) fell 12.8% during trading on Thursday . The company traded as low as $99.94 and last traded at $99.2890. 2,284,287 shares were traded during mid-day trading, an increase of 64% from the average session volume of 1,392,542 shares. The stock had previously closed at $113.88.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RBA. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Raymond James Financial increased their price objective on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Royal Bank Of Canada lifted their target price on RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Bank of America decreased their target price on RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of RB Global in a report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, RB Global has an average rating of “Moderate Buy” and an average target price of $126.00.

RB Global Trading Down 11.5%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.23. The stock’s fifty day moving average is $108.95 and its 200 day moving average is $107.95. The stock has a market cap of $18.74 billion, a P/E ratio of 48.23, a P/E/G ratio of 2.23 and a beta of 0.54.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 9th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, February 9th. RB Global’s dividend payout ratio (DPR) is presently 59.33%.

Insider Activity at RB Global

In other news, CEO James Francis Kessler sold 20,742 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the transaction, the chief executive officer owned 107,569 shares of the company’s stock, valued at approximately $12,370,435. The trade was a 16.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in RB Global by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider’s stock valued at $2,744,455,000 after buying an additional 124,926 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of RB Global by 1.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider’s stock worth $1,120,479,000 after acquiring an additional 165,260 shares during the period. Vontobel Holding Ltd. grew its stake in RB Global by 10.3% in the third quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock worth $781,862,000 after purchasing an additional 672,450 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of RB Global by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider’s stock valued at $513,930,000 after buying an additional 250,887 shares during the last quarter. Finally, Fiera Capital Corp grew its position in shares of RB Global by 2.2% in the 4th quarter. Fiera Capital Corp now owns 4,157,985 shares of the business services provider’s stock worth $428,223,000 after buying an additional 90,982 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

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.