13,094 Shares in RB Global, Inc. (NYSE:RBA) Acquired by Manning & Napier Advisors LLC

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

Other hedge funds also recently made changes to their positions in the company. CoreCap Advisors LLC lifted its holdings in RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after buying an additional 117 shares during the period. MV Capital Management Inc. raised its holdings in shares of RB Global by 5,560.0% during the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock valued at $28,000 after acquiring an additional 278 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after acquiring an additional 129 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in RB Global in the fourth quarter worth $36,000. Finally, Whipplewood Advisors LLC bought a new stake in RB Global in the fourth quarter valued at $37,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Up 0.3%

RBA traded up $0.34 during midday trading on Friday, reaching $105.73. The company's stock had a trading volume of 1,232,517 shares, compared to its average volume of 972,531. The firm has a market capitalization of $19.58 billion, a price-to-earnings ratio of 52.09, a PEG ratio of 3.73 and a beta of 0.78. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a 1 year low of $70.38 and a 1 year high of $109.87. The stock's 50-day moving average is $104.12 and its 200-day moving average is $98.00.

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 EPS for the quarter, hitting analysts' consensus estimates of $0.89. RB Global had a return on equity of 8.03% and a net margin of 9.68%. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the previous year, the firm posted $0.90 EPS. The business's revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.29 per share. The ex-dividend date was Thursday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.10%. RB Global's payout ratio is presently 57.14%.

Insider Activity

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

Wall Street Analyst Weigh In

Several research analysts have commented on RBA shares. CIBC upped their price objective on shares of RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a report on Friday, May 9th. National Bank Financial downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. National Bankshares lowered their price objective on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Robert W. Baird upped their target price on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Raymond James Financial increased their target price 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 equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $114.50.

RB Global 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.