Marks Group Wealth Management Inc Sells 5,685 Shares of RB Global, Inc. (NYSE:RBA)

Marks Group Wealth Management Inc decreased its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 5.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 93,979 shares of the business services provider's stock after selling 5,685 shares during the quarter. RB Global accounts for approximately 0.9% of Marks Group Wealth Management Inc's holdings, making the stock its 24th biggest holding. Marks Group Wealth Management Inc owned approximately 0.05% of RB Global worth $9,426,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in shares of RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after acquiring an additional 129 shares during the last quarter. Proficio Capital Partners LLC bought a new position in RB Global in the 4th quarter worth approximately $36,000. HighTower Advisors LLC lifted its holdings in RB Global by 8.0% during the 4th quarter. HighTower Advisors LLC now owns 17,222 shares of the business services provider's stock worth $1,554,000 after buying an additional 1,271 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in RB Global by 19.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,485 shares of the business services provider's stock valued at $314,000 after buying an additional 563 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its stake in shares of RB Global by 4.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,762 shares of the business services provider's stock valued at $339,000 after buying an additional 176 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

Analysts Set New Price Targets

RBA has been the topic of several research reports. CIBC upped their price target on RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a research note on Friday, May 9th. Robert W. Baird upped their target price on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Raymond James Financial raised their target price on shares of RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. National Bankshares lowered their price target on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Wall Street Zen lowered shares of RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $115.79.

RB Global Stock Performance

RBA stock traded up $0.42 during trading hours on Friday, hitting $108.11. 1,019,120 shares of the stock were exchanged, compared to its average volume of 958,149. RB Global, Inc. has a 12 month low of $70.38 and a 12 month high of $109.25. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $20.02 billion, a P/E ratio of 53.26, a P/E/G ratio of 2.47 and a beta of 0.77. The company has a 50-day simple moving average of $105.72 and a two-hundred day simple moving average of $99.03.

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

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Thursday, May 29th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $1.16 annualized dividend and a yield of 1.07%. RB Global's dividend payout ratio is presently 57.14%.

Insider Buying and Selling at RB Global

In other RB Global news, insider Andrew John Fesler sold 9,075 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total value of $950,334.00. Following the completion of the sale, the insider owned 5,532 shares of the company's stock, valued at approximately $579,311.04. This trade represents a 62.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Adam Dewitt sold 800 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $84,936.00. Following the sale, the director owned 5,865 shares of the company's stock, valued at $622,687.05. This trade represents a 12.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,075 shares of company stock valued at $2,007,349. 4.32% of the stock is 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.