Marks Group Wealth Management Inc Trims Holdings in RB Global, Inc. $RBA

Marks Group Wealth Management Inc cut its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 9.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,678 shares of the business services provider’s stock after selling 8,169 shares during the quarter. Marks Group Wealth Management Inc’s holdings in RB Global were worth $7,991,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of RB Global by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider’s stock worth $2,744,455,000 after buying an additional 124,926 shares during the period. Massachusetts Financial Services Co. MA grew its position in RB Global by 1.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider’s stock valued at $1,120,479,000 after purchasing an additional 165,260 shares during the last quarter. Geode Capital Management LLC grew its position in RB Global by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider’s stock valued at $513,930,000 after purchasing an additional 250,887 shares during the last quarter. Fiera Capital Corp grew its position in RB Global by 2.2% during the 4th quarter. Fiera Capital Corp now owns 4,157,985 shares of the business services provider’s stock valued at $428,223,000 after purchasing an additional 90,982 shares during the last quarter. Finally, Invesco Ltd. grew its position in RB Global by 17.7% during the 3rd quarter. Invesco Ltd. now owns 2,863,540 shares of the business services provider’s stock valued at $310,293,000 after purchasing an additional 430,729 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at RB Global

In other RB Global news, Director Deborah Stein acquired 425 shares of the stock in a transaction dated Tuesday, May 19th. The shares were purchased at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the purchase, the director directly owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.57% of the stock is owned by company insiders.

RB Global Stock Performance

Shares of NYSE RBA opened at $104.76 on Tuesday. The firm’s 50-day moving average price is $102.91 and its 200-day moving average price is $104.11. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. The company has a market cap of $19.48 billion, a PE ratio of 48.73, a PEG ratio of 1.66 and a beta of 0.57. RB Global, Inc. has a 52-week low of $93.58 and a 52-week high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 EPS. As a group, analysts anticipate that RB Global, Inc. will post 4.09 EPS for the current year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th 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 is Wednesday, May 27th. RB Global’s dividend payout ratio is 57.67%.

Analyst Ratings Changes

Several analysts recently commented on RBA shares. Royal Bank Of Canada increased their price objective on shares of RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. BMO Capital Markets reissued an “outperform” rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Stephens reissued an “equal weight” rating and set a $96.00 price objective on shares of RB Global in a research report on Tuesday, May 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Finally, Barclays started coverage on shares of RB Global in a research report on Thursday, May 28th. They set an “overweight” rating and a $124.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $126.13.

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.