RB Global (NYSE:RBA) Reaches New 1-Year High – Still a Buy?

RB Global, Inc. (NYSE:RBA) (TSE:RBA) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $95.19 and last traded at $95.15, with a volume of 143913 shares changing hands. The stock had previously closed at $93.74.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Raymond James lifted their target price on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Royal Bank of Canada increased their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Bank of America raised their price objective on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Robert W. Baird boosted their target price on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, BMO Capital Markets raised their price target on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, RB Global has a consensus rating of “Moderate Buy” and an average price target of $98.36.

RB Global Stock Performance

The stock’s 50-day moving average price is $85.30 and its 200-day moving average price is $80.98. The company has a market capitalization of $18.04 billion, a price-to-earnings ratio of 53.16, a P/E/G ratio of 4.58 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 annualized dividend and a yield of 1.19%. RB Global’s dividend payout ratio is presently 63.04%.

Insider Buying and Selling at RB Global

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the completion of the transaction, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,261,134.93. The trade was a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RBA. Bank of New York Mellon Corp increased its position in RB Global by 142.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock worth $102,154,000 after purchasing an additional 787,042 shares in the last quarter. National Bank of Canada FI raised its position in shares of RB Global by 309.6% in the third quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock valued at $65,014,000 after buying an additional 610,843 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of RB Global by 1,879.0% during the second quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock valued at $47,761,000 after buying an additional 594,941 shares during the period. Principal Financial Group Inc. lifted its stake in shares of RB Global by 3,387.9% during the second quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock valued at $46,712,000 after buying an additional 594,199 shares during the period. Finally, FMR LLC boosted its position in RB Global by 60.5% during the third quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock worth $95,057,000 after acquiring an additional 445,004 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Company 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.