Marks Group Wealth Management Inc Has $6.42 Million Holdings in RB Global, Inc. $RBA

Key Points

• Marks Group Wealth Management cut its RB Global stake by 13.8% in the first quarter, selling 10,712 shares and ending with 66,966 shares worth about $6.42 million.
• Wall Street sentiment improved on RB Global, with multiple analyst upgrades and a current consensus rating of Buy and average price target of $127.12.
• RB Global recently reported Q1 EPS of $1.01, beating estimates, and also paid a quarterly dividend of $0.31 per share, equal to a 1.1% annualized yield.

Marks Group Wealth Management Inc decreased its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 13.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,966 shares of the business services provider's stock after selling 10,712 shares during the period. Marks Group Wealth Management Inc's holdings in RB Global were worth $6,419,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. MV Capital Management Inc. acquired a new stake in shares of RB Global in the 4th quarter valued at about $29,000. Bayban bought a new position in shares of RB Global during the fourth quarter worth about $34,000. Central Pacific Bank Trust Division raised its position in RB Global by 41.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider's stock valued at $37,000 after buying an additional 107 shares during the last quarter. State of Wyoming acquired a new stake in RB Global in the 2nd quarter valued at approximately $46,000. Finally, Nemes Rush Group LLC bought a new stake in RB Global in the 4th quarter valued at approximately $54,000. 95.37% of the stock is owned by institutional investors.

Insider Activity at RB Global

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RBA. Zacks Research raised shares of RB Global from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 3rd. Wall Street Zen raised shares of RB Global from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Raymond James Financial upgraded shares of RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 target price for the company in a report on Tuesday, June 30th. Royal Bank Of Canada raised their target price 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. Finally, National Bank Financial lifted their price target on shares of RB Global from $130.00 to $132.00 and gave the company an "outperform" rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $127.12.

RB Global Price Performance

NYSE:RBA opened at $111.44 on Thursday. RB Global, Inc. has a 12-month low of $93.58 and a 12-month high of $119.58. The firm has a market capitalization of $20.72 billion, a price-to-earnings ratio of 51.83, a P/E/G ratio of 1.71 and a beta of 0.55. The stock's 50 day moving average price is $107.68 and its two-hundred day moving average price is $106.02. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.97 by $0.04. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The company had revenue of $888.01 million during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted $0.89 EPS. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. On average, analysts anticipate that RB Global, Inc. will post 4.16 earnings per share for the current year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, May 27th. RB Global's payout ratio is 57.67%.

About RB Global

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.

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