RB Global, Inc. (NYSE:RBA) Stock Holdings Decreased by M&T Bank Corp

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

A number of other hedge funds also recently added to or reduced their stakes in the company. Natixis Advisors LLC raised its stake in RB Global by 69.5% during the 4th 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. grew its position in shares of RB Global by 122.2% during the 1st quarter. QRG Capital Management Inc. now owns 7,678 shares of the business services provider's stock valued at $770,000 after acquiring an additional 4,222 shares during the period. Mawer Investment Management Ltd. grew its position in shares of RB Global by 15.7% during the 4th quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider's stock valued at $10,876,000 after acquiring an additional 16,397 shares during the period. Vanguard Group Inc. grew its position in shares of RB Global by 1.5% during 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 period. Finally, MetLife Investment Management LLC grew its position in shares of RB Global by 9.2% during the 4th quarter. MetLife Investment Management LLC now owns 103,934 shares of the business services provider's stock valued at $9,376,000 after acquiring an additional 8,723 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on RBA shares. National Bank Financial downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Wall Street Zen downgraded shares of RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. National Bankshares decreased 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 report on Wednesday, April 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. Finally, Royal Bank Of Canada set a $125.00 target price on shares of RB Global and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $116.21.

RB Global Stock Performance

NYSE RBA traded down $0.29 on Friday, reaching $110.06. 1,041,186 shares of the company's stock traded hands, compared to its average volume of 960,314. The stock has a 50 day moving average price of $106.33 and a 200-day moving average price of $99.62. The firm has a market cap of $20.38 billion, a price-to-earnings ratio of 54.22, a P/E/G ratio of 2.54 and a beta of 0.77. RB Global, Inc. has a fifty-two week low of $70.38 and a fifty-two week high of $111.71. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.21 and a current ratio of 1.31.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share 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 business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the prior year, the company posted $0.90 EPS. The business's revenue for the quarter was up 4.1% on a year-over-year basis. Equities research analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Thursday, May 29th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, May 29th. RB Global's dividend payout ratio (DPR) is 57.14%.

Insider Transactions at RB Global

In other RB Global news, CRO James J. Jeter sold 3,500 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $104.38, for a total transaction of $365,330.00. Following the transaction, the executive directly owned 16,167 shares of the company's stock, valued at approximately $1,687,511.46. This trade represents a 17.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Andrew John Fesler sold 9,075 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total transaction of $950,334.00. Following the transaction, the insider directly owned 5,532 shares in the company, valued at $579,311.04. The trade was a 62.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,133 shares of company stock worth $7,843,729. Insiders own 4.32% of the company's stock.

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.