Marks Group Wealth Management Inc Cuts Position in RB Global, Inc. (NYSE:RBA)

Marks Group Wealth Management Inc lessened its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 5.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 investment portfolio, making the stock its 24th biggest position. Marks Group Wealth Management Inc owned about 0.05% of RB Global worth $9,426,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of RBA. Vanguard Group Inc. lifted its stake in shares of RB Global by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock valued at $2,248,060,000 after acquiring an additional 358,752 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of RB Global by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider's stock valued at $357,434,000 after acquiring an additional 264,778 shares during the last quarter. Janus Henderson Group PLC raised its position in RB Global by 0.6% during the 4th quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider's stock worth $307,033,000 after purchasing an additional 19,895 shares during the last quarter. Boston Partners raised its position in RB Global by 6.9% during the 4th quarter. Boston Partners now owns 3,308,977 shares of the business services provider's stock worth $298,500,000 after purchasing an additional 214,181 shares during the last quarter. Finally, FMR LLC raised its position in RB Global by 137.5% during the 4th quarter. FMR LLC now owns 2,804,404 shares of the business services provider's stock worth $252,985,000 after purchasing an additional 1,623,429 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Wall Street Analyst Weigh In

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

RB Global Trading Up 1.4%

Shares of RBA stock traded up $1.54 during mid-day trading on Wednesday, hitting $109.32. The company's stock had a trading volume of 1,102,884 shares, compared to its average volume of 959,253. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.21 and a current ratio of 1.31. The company's fifty day simple moving average is $106.14 and its 200-day simple moving average is $99.35. The company has a market cap of $20.24 billion, a PE ratio of 53.85, a P/E/G ratio of 2.46 and a beta of 0.77. RB Global, Inc. has a 52 week low of $70.38 and a 52 week high of $111.07.

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

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were paid a $0.29 dividend. The ex-dividend date was Thursday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.06%. RB Global's dividend payout ratio is presently 57.14%.

Insider Buying and Selling

In other RB Global news, insider Darren Jeffrey Watt sold 7,400 shares of RB Global stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $814,000.00. Following the completion of the transaction, the insider owned 24,874 shares in the company, valued at approximately $2,736,140. The trade was a 22.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Adam Dewitt sold 800 shares of RB Global stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total value of $84,936.00. Following the transaction, 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. Insiders sold a total of 72,133 shares of company stock worth $7,843,729 over the last 90 days. 4.32% of the stock is owned by company insiders.

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.