Massachusetts Financial Services Co. MA Has $1.03 Billion Holdings in RB Global, Inc. (NYSE:RBA)

Massachusetts Financial Services Co. MA increased its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 3.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,241,186 shares of the business services provider's stock after purchasing an additional 352,530 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 5.53% of RB Global worth $1,027,191,000 at the end of the most recent quarter.

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

RB Global Trading Up 1.4%

Shares of NYSE RBA 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 960,180. The stock has a market cap of $20.24 billion, a price-to-earnings ratio of 53.85, a price-to-earnings-growth ratio of 2.51 and a beta of 0.77. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 1.21. RB Global, Inc. has a one year low of $70.38 and a one year high of $111.07. The company's fifty day simple moving average is $106.00 and its 200-day simple moving average is $99.28.

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. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The business's quarterly revenue was up 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders 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 yield of 1.06%. RB Global's dividend payout ratio (DPR) is currently 57.14%.

Insider Activity

In other RB Global news, CRO James J. Jeter sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $106.96, for a total transaction of $213,920.00. Following the sale, the executive directly owned 14,167 shares in the company, valued at approximately $1,515,302.32. This trade represents a 12.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Darren Jeffrey Watt sold 7,400 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $814,000.00. Following the sale, the insider owned 24,874 shares in the company, valued at $2,736,140. This trade represents a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,133 shares of company stock worth $7,843,729. Corporate insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RBA shares. Wall Street Zen lowered shares of RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Royal Bank Of Canada set a $125.00 price objective on shares of RB Global and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Raymond James Financial increased their price objective on shares of RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Finally, National Bankshares reduced their target price on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, RB Global has a consensus rating of "Moderate Buy" and a consensus price target of $115.79.

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.