Marks Group Wealth Management Inc Has $9.63 Million Stock Holdings in RB Global, Inc. $RBA

Key Points

• Marks Group Wealth Management Inc. reduced its holdings in RB Global, Inc. by 3.6% in the 2nd quarter, ending with $9.63 million in stock, positioning it as the 29th largest stock in its portfolio.
• RB Global reported earnings of $1.07 EPS for the quarter, exceeding expectations and showing an 8.2% revenue increase compared to the same period last year.
• The company announced a quarterly dividend of $0.31 per share, representing a 1.1% yield and an increase from the previous dividend of $0.29.

Marks Group Wealth Management Inc cut its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 3.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,639 shares of the business services provider's stock after selling 3,340 shares during the period. RB Global accounts for 0.9% of Marks Group Wealth Management Inc's portfolio, making the stock its 29th largest holding. Marks Group Wealth Management Inc's holdings in RB Global were worth $9,625,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of RBA. Wealth Enhancement Advisory Services LLC increased its stake in shares of RB Global by 18.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,883 shares of the business services provider's stock worth $441,000 after purchasing an additional 752 shares during the last quarter. UMB Bank n.a. increased its stake in shares of RB Global by 121.1% during the 1st quarter. UMB Bank n.a. now owns 2,074 shares of the business services provider's stock worth $208,000 after purchasing an additional 1,136 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of RB Global by 28.6% during the 1st quarter. GAMMA Investing LLC now owns 1,608 shares of the business services provider's stock worth $161,000 after purchasing an additional 358 shares during the last quarter. MV Capital Management Inc. increased its stake in shares of RB Global by 5,560.0% during the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock worth $28,000 after purchasing an additional 278 shares during the last quarter. Finally, Paragon Capital Management Ltd bought a new stake in shares of RB Global during the 1st quarter worth about $224,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Stock Performance

NYSE RBA opened at $108.32 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $20.11 billion, a P/E ratio of 53.63, a P/E/G ratio of 2.52 and a beta of 0.65. RB Global, Inc. has a 12-month low of $78.55 and a 12-month high of $119.58. The firm has a 50-day moving average price of $113.54 and a two-hundred day moving average price of $106.79.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.95 by $0.12. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.14 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 EPS. Analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 28th were given a dividend of $0.31 per share. The ex-dividend date was Thursday, August 28th. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. This is a positive change from RB Global's previous quarterly dividend of $0.29. RB Global's dividend payout ratio is currently 61.39%.

Insider Buying and Selling

In related news, CEO James Francis Kessler sold 45,658 shares of the company's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the completion of the transaction, the chief executive officer directly owned 107,569 shares in the company, valued at $11,832,590. This represents a 29.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 shares were sold at an average price of $118.15, for a total transaction of $254,140.65. The disclosure for this sale can be found here. Insiders sold a total of 55,209 shares of company stock worth $6,090,521 in the last three months. 4.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

RBA has been the subject of several research analyst reports. Raymond James Financial lifted 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. National Bankshares lifted their target price on shares of RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. BMO Capital Markets lifted their target price on shares of RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen raised shares of RB Global from a "hold" rating to a "buy" rating in a report on Friday. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of RB Global in a report on Saturday, September 27th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $124.33.

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.

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