M&T Bank Corp Reduces Holdings in RB Global, Inc. (NYSE:RBA)

M&T Bank Corp cut its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 78.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,963 shares of the business services provider's stock after selling 24,635 shares during the quarter. M&T Bank Corp's holdings in RB Global were worth $698,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Natixis Advisors LLC grew its holdings in shares of RB Global by 69.5% during the fourth quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider's stock valued at $1,703,000 after buying an additional 7,737 shares during the last quarter. QRG Capital Management Inc. raised its position in RB Global by 122.2% in the first quarter. QRG Capital Management Inc. now owns 7,678 shares of the business services provider's stock worth $770,000 after acquiring an additional 4,222 shares during the period. Mawer Investment Management Ltd. raised its position in RB Global by 15.7% in the fourth quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider's stock worth $10,876,000 after acquiring an additional 16,397 shares during the period. Vanguard Group Inc. raised its position in RB Global by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock worth $2,248,060,000 after acquiring an additional 358,752 shares during the period. Finally, MetLife Investment Management LLC raised its position in RB Global by 9.2% in the fourth quarter. MetLife Investment Management LLC now owns 103,934 shares of the business services provider's stock worth $9,376,000 after acquiring an additional 8,723 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at RB Global

In other news, insider Darren Jeffrey Watt sold 7,400 shares of RB Global stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $814,000.00. Following the completion of the sale, the insider directly owned 24,874 shares in the company, valued at $2,736,140. The trade was a 22.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO James J. Jeter sold 2,000 shares of RB Global stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $106.96, for a total transaction of $213,920.00. Following the completion of the sale, the executive owned 14,167 shares of the company's stock, valued at $1,515,302.32. This represents a 12.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,133 shares of company stock worth $7,843,729 in the last 90 days. Insiders own 4.32% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RBA shares. Raymond James Financial boosted their price target on shares of RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research 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. National Bankshares decreased their price target on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Robert W. Baird upped their price objective on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, CIBC increased their price target on shares of RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, RB Global currently has an average rating of "Moderate Buy" and an average target price of $115.79.

RB Global Trading Up 0.7%

Shares of NYSE:RBA traded up $0.77 on Friday, hitting $111.12. The company had a trading volume of 87,786 shares, compared to its average volume of 955,574. The firm's 50-day simple moving average is $106.25 and its two-hundred day simple moving average is $99.48. RB Global, Inc. has a 1 year low of $70.38 and a 1 year high of $111.66. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $20.58 billion, a price-to-earnings ratio of 54.84, a P/E/G ratio of 2.52 and a beta of 0.77.

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

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.04%. RB Global's dividend payout ratio is currently 57.14%.

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.