Mutual of America Capital Management LLC Has $9.52 Million Holdings in RB Global, Inc. (NYSE:RBA)

Mutual of America Capital Management LLC reduced its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,914 shares of the business services provider's stock after selling 2,502 shares during the period. Mutual of America Capital Management LLC owned 0.05% of RB Global worth $9,520,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RBA. Vanguard Group Inc. grew its position in shares of RB Global by 1.5% during 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 last quarter. Geode Capital Management LLC lifted its holdings in shares of RB Global by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider's stock worth $357,434,000 after purchasing an additional 264,778 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of RB Global by 0.6% during the fourth 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 period. Boston Partners lifted its holdings in shares of RB Global by 6.9% during the fourth 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 period. Finally, FMR LLC lifted its holdings in shares of RB Global by 137.5% during the fourth 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 period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RBA has been the subject of a number of recent analyst reports. National Bank Financial downgraded RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Wall Street Zen downgraded RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. CIBC raised their target price on RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a report on Friday, May 9th. Royal Bank Of Canada set a $125.00 target price on RB Global and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Finally, National Bankshares cut their price target on RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, RB Global has a consensus rating of "Moderate Buy" and an average target price of $115.79.

RB Global Stock Up 0.1%

Shares of RBA traded up $0.11 during trading on Tuesday, reaching $109.77. The company's stock had a trading volume of 201,162 shares, compared to its average volume of 956,259. The company has a fifty day moving average of $105.72 and a two-hundred day moving average of $99.09. RB Global, Inc. has a twelve month low of $70.38 and a twelve month high of $111.07. The company has a market cap of $20.33 billion, a price-to-earnings ratio of 53.96, a P/E/G ratio of 2.47 and a beta of 0.77. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

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

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors 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 1.06%. RB Global's payout ratio is currently 57.14%.

Insider Buying and Selling

In other news, CRO James J. Jeter sold 3,500 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $104.38, for a total value of $365,330.00. Following the completion of the transaction, the executive owned 16,167 shares of the company's stock, valued at approximately $1,687,511.46. This represents a 17.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Darren Jeffrey Watt sold 3,700 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total value of $392,829.00. Following the completion of the sale, the insider owned 24,874 shares of the company's stock, valued at approximately $2,640,872.58. This trade represents a 12.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,075 shares of company stock valued at $2,007,349 in the last 90 days. Corporate insiders own 4.32% of the company's stock.

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.