RB Global, Inc. $RBA Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 2.1% in the second quarter, HoldingsChannel reports. The firm owned 10,021,503 shares of the business services provider’s stock after selling 219,683 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.05% of RB Global worth $1,064,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. SouthState Corp acquired a new position in RB Global during the 1st quarter valued at about $26,000. SVB Wealth LLC acquired a new position in shares of RB Global during the first quarter worth approximately $28,000. IFP Advisors Inc boosted its position in shares of RB Global by 348.8% during the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock worth $36,000 after buying an additional 279 shares during the period. Rise Advisors LLC acquired a new stake in RB Global in the 1st quarter valued at approximately $38,000. Finally, Whipplewood Advisors LLC boosted its position in RB Global by 42.9% during the 2nd quarter. Whipplewood Advisors LLC now owns 456 shares of the business services provider’s stock worth $48,000 after acquiring an additional 137 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Stock Up 0.8%

RB Global stock opened at $101.55 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28. RB Global, Inc. has a twelve month low of $86.68 and a twelve month high of $119.58. The firm’s 50 day moving average price is $106.25 and its two-hundred day moving average price is $107.64. The firm has a market cap of $18.86 billion, a PE ratio of 50.27, a P/E/G ratio of 2.48 and a beta of 0.65.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Thursday, November 6th. The business services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.10. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.05 billion. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 earnings per share. On average, research analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, November 26th. RB Global’s dividend payout ratio is 59.33%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Royal Bank Of Canada boosted their price target on shares of RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Raymond James Financial raised their target price on shares of RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. CIBC increased their price objective on RB Global from $118.00 to $121.00 and gave the company an “outperformer” rating in a research report on Friday, July 18th. National Bankshares decreased their target price on RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a report on Thursday, October 9th. Finally, Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, RB Global has a consensus rating of “Moderate Buy” and an average target price of $122.71.

Insider Transactions at RB Global

In related news, Director Deborah Stein acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average cost of $101.26 per share, with a total value of $101,260.00. Following the purchase, the director owned 1,000 shares of the company’s stock, valued at approximately $101,260. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Thomas Steven Lewis sold 2,151 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $118.15, for a total value of $254,140.65. The SEC filing for this sale provides additional information. Corporate insiders own 4.32% of the company’s stock.

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.