Natixis Advisors LLC Raises Stock Position in RB Global, Inc. (NYSE:RBA)

Natixis Advisors LLC boosted its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 56.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 29,569 shares of the business services provider's stock after purchasing an additional 10,692 shares during the period. Natixis Advisors LLC's holdings in RB Global were worth $2,966,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in shares of RB Global by 3.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider's stock valued at $1,027,191,000 after acquiring an additional 352,530 shares during the period. Fiera Capital Corp grew its position in shares of RB Global by 17.3% during the 1st quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider's stock valued at $379,150,000 after acquiring an additional 557,407 shares during the period. Janus Henderson Group PLC grew its position in shares of 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 valued at $307,033,000 after acquiring an additional 19,895 shares during the period. FMR LLC grew its position in shares of RB Global by 137.5% during the 4th quarter. FMR LLC now owns 2,804,404 shares of the business services provider's stock valued at $252,985,000 after acquiring an additional 1,623,429 shares during the period. Finally, FIL Ltd grew its position in shares of RB Global by 26.4% during the 4th quarter. FIL Ltd now owns 2,030,696 shares of the business services provider's stock valued at $183,189,000 after acquiring an additional 424,060 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity at RB Global

In other RB Global news, CRO James J. Jeter sold 3,500 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $1,687,511.46. This represents a 17.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Adam Dewitt sold 800 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $84,936.00. Following the completion of the sale, the director owned 5,865 shares in the company, valued at $622,687.05. This represents a 12.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,133 shares of company stock valued at $7,843,729 in the last ninety days. Company insiders own 4.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RBA. Robert W. Baird raised their target price on RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Raymond James Financial raised their target price on RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday. Royal Bank Of Canada raised their price target on shares of RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research note on Thursday. BMO Capital Markets raised their price target on shares of RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $119.79.

RB Global Stock Performance

RBA traded up $3.09 on Friday, reaching $114.10. The company had a trading volume of 1,827,769 shares, compared to its average volume of 922,218. RB Global, Inc. has a 1 year low of $77.79 and a 1 year high of $114.45. The stock has a market capitalization of $21.17 billion, a PE ratio of 56.49, a P/E/G ratio of 2.63 and a beta of 0.75. The company has a quick ratio of 1.21, a current ratio of 1.28 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $107.13 and a 200-day moving average price of $101.68.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its earnings results on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.12. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The business's revenue was up 8.2% compared to the same quarter last year. As a group, research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th will be given a dividend of $0.31 per share. The ex-dividend date is Thursday, August 28th. This is an increase from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 1.1%. RB Global's dividend payout ratio (DPR) is currently 57.43%.

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.