Manning & Napier Advisors LLC Purchases Shares of 13,094 RB Global, Inc. (NYSE:RBA)

Manning & Napier Advisors LLC purchased a new stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,094 shares of the business services provider's stock, valued at approximately $1,313,000.

A number of other hedge funds have also modified their holdings of RBA. Sanctuary Advisors LLC boosted its position in RB Global by 5.1% during the fourth quarter. Sanctuary Advisors LLC now owns 6,188 shares of the business services provider's stock valued at $563,000 after purchasing an additional 303 shares during the last quarter. Coyle Financial Counsel LLC raised its stake in shares of RB Global by 10.7% during the 4th quarter. Coyle Financial Counsel LLC now owns 23,528 shares of the business services provider's stock worth $2,122,000 after purchasing an additional 2,271 shares in the last quarter. Advisor OS LLC lifted its holdings in shares of RB Global by 8.2% during the 4th quarter. Advisor OS LLC now owns 6,972 shares of the business services provider's stock valued at $629,000 after buying an additional 527 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of RB Global by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 37,510 shares of the business services provider's stock valued at $3,384,000 after buying an additional 210 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of RB Global in the 4th quarter valued at approximately $37,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Raymond James Financial raised their price objective on shares of RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Robert W. Baird raised their price target on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. CIBC lifted their price objective on shares of RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a research note on Friday, May 9th. Wall Street Zen upgraded shares of RB Global from a "hold" rating to a "buy" rating in a report on Saturday. Finally, National Bank Financial downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.50.

RB Global Stock Performance

Shares of NYSE RBA traded down $0.91 during trading hours on Wednesday, hitting $104.70. 1,290,777 shares of the stock were exchanged, compared to its average volume of 973,624. RB Global, Inc. has a one year low of $70.38 and a one year high of $109.25. The company's 50 day moving average is $103.96 and its 200 day moving average is $97.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 1.21. The firm has a market capitalization of $19.39 billion, a P/E ratio of 51.58, a P/E/G ratio of 3.76 and a beta of 0.78.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. RB Global had a return on equity of 8.03% and a net margin of 9.68%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business posted $0.90 earnings per share. The firm's revenue was up 4.1% compared to the same quarter last year. On average, research analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Thursday, May 29th. RB Global's dividend payout ratio is currently 57.14%.

Insider Transactions at RB Global

In related news, Director Adam Dewitt sold 800 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total transaction of $84,936.00. Following the transaction, the director now directly owns 5,865 shares in the company, valued at $622,687.05. The trade was a 12.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO James J. Jeter sold 3,500 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $104.38, for a total value of $365,330.00. Following the completion of the sale, the executive now owns 16,167 shares of the company's stock, valued at $1,687,511.46. This represents a 17.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,075 shares of company stock worth $2,007,349 over the last three months. 4.32% of the stock is currently owned by insiders.

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.