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

RB Global, Inc. (NYSE:RBA) (TSE:RBA) declared 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 1.19%. The ex-dividend date of this dividend is Wednesday, November 27th.

RB Global has raised its dividend by an average of 8.7% per year over the last three years and has increased its dividend every year for the last 20 years. RB Global has a payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

RBA stock opened at $97.81 on Monday. The stock has a market cap of $18.04 billion, a PE ratio of 53.16, a price-to-earnings-growth ratio of 4.70 and a beta of 0.92. The stock has a 50-day moving average price of $85.55 and a two-hundred day moving average price of $81.29. RB Global has a 1 year low of $60.84 and a 1 year high of $97.83. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52.

Analyst Upgrades and Downgrades

RBA has been the subject of a number of recent research reports. Bank of America upped their price target on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. BMO Capital Markets raised their target price on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Royal Bank of Canada boosted their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Robert W. Baird raised their price objective on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, Raymond James upped their target price on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.36.

Insider Buying and Selling

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the sale, the chief executive officer now owns 86,247 shares in the company, valued at $7,261,134.93. This trade represents a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 4.10% of the stock is currently owned by company insiders.

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.