Man Group plc Has $2.82 Million Stock Holdings in RB Global, Inc. (NYSE:RBA)

Man Group plc lessened its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 27.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,221 shares of the business services provider's stock after selling 11,775 shares during the quarter. Man Group plc's holdings in RB Global were worth $2,816,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in RBA. Raymond James Financial Inc. purchased a new stake in RB Global during the 4th quarter worth about $266,148,000. Norges Bank purchased a new stake in shares of RB Global during the fourth quarter worth about $209,931,000. FMR LLC raised its position in shares of RB Global by 137.5% in the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider's stock valued at $252,985,000 after buying an additional 1,623,429 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of RB Global by 9.8% during the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock valued at $762,378,000 after buying an additional 753,700 shares during the period. Finally, FIL Ltd boosted its position in RB Global by 26.4% during the fourth quarter. FIL Ltd now owns 2,030,696 shares of the business services provider's stock worth $183,189,000 after acquiring an additional 424,060 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on RBA. CIBC upped their price target on shares of RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research report on Friday, May 9th. Wall Street Zen raised RB Global from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. BMO Capital Markets raised their price objective on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday. Finally, Raymond James boosted their price target on RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, RB Global has a consensus rating of "Moderate Buy" and a consensus target price of $114.50.

Insider Buying and Selling at RB Global

In other news, CRO James J. Jeter sold 2,000 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $106.96, for a total transaction of $213,920.00. Following the transaction, the executive now owns 14,167 shares in the company, valued at $1,515,302.32. This represents a 12.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew John Fesler sold 9,075 shares of RB Global stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total transaction of $950,334.00. Following the completion of the sale, the insider now directly owns 5,532 shares of the company's stock, valued at approximately $579,311.04. The trade was a 62.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,472 shares of company stock worth $3,867,745 over the last ninety days. 4.32% of the stock is currently owned by insiders.

RB Global Trading Down 0.3%

Shares of RBA traded down $0.27 during midday trading on Wednesday, hitting $104.47. The stock had a trading volume of 1,419,651 shares, compared to its average volume of 1,127,721. The business has a 50-day simple moving average of $100.39 and a two-hundred day simple moving average of $96.54. The firm has a market cap of $19.34 billion, a P/E ratio of 51.99, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a fifty-two week low of $70.27 and a fifty-two week high of $109.25.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.89. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The company's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. As a group, equities analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.11%. The ex-dividend date is Thursday, May 29th. RB Global's payout ratio is presently 57.14%.

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.