Mawer Investment Management Ltd. Has $13.56 Million Position in RB Global, Inc. (NYSE:RBA)

Key Points

• Mawer Investment Management Ltd. increased its holdings in RB Global, Inc. by 12.2% during the first quarter, owning approximately 0.07% of the company valued at $13,564,000.
• A number of institutional investors have also boosted their stakes in RB Global, with Fiera Capital Corp increasing its stake by 17.3%, now holding shares worth $379,150,000.
• RB Global recently announced a quarterly dividend of $0.29 per share, resulting in an annualized dividend of $1.16 and a yield of 1.07%.

Mawer Investment Management Ltd. boosted its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 12.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,232 shares of the business services provider's stock after purchasing an additional 14,668 shares during the period. Mawer Investment Management Ltd. owned about 0.07% of RB Global worth $13,564,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Securian Asset Management Inc. increased its stake in RB Global by 0.7% in the 1st quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider's stock valued at $1,408,000 after purchasing an additional 100 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in RB Global by 10.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock valued at $106,000 after purchasing an additional 104 shares in the last quarter. Wealth Alliance LLC increased its stake in RB Global by 2.7% in the 1st quarter. Wealth Alliance LLC now owns 3,976 shares of the business services provider's stock valued at $399,000 after purchasing an additional 104 shares in the last quarter. CoreCap Advisors LLC increased its stake in RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after purchasing an additional 117 shares in the last quarter. Finally, Fullcircle Wealth LLC increased its stake in RB Global by 5.5% in the 1st quarter. Fullcircle Wealth LLC now owns 2,382 shares of the business services provider's stock valued at $235,000 after purchasing an additional 124 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on RBA shares. Wall Street Zen downgraded RB Global from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. National Bankshares reduced their price objective on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. CIBC boosted their price objective on RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a research note on Friday, July 18th. Royal Bank Of Canada set a $125.00 target price on RB Global and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Robert W. Baird boosted their price objective on RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $116.21.

RB Global Stock Performance

RBA stock traded down $0.16 during mid-day trading on Friday, reaching $108.10. 429,369 shares of the stock traded hands, compared to its average volume of 1,073,017. 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, Inc. has a 52 week low of $70.38 and a 52 week high of $111.71. The business has a 50-day moving average of $106.56 and a two-hundred day moving average of $100.74. The firm has a market capitalization of $20.06 billion, a PE ratio of 53.28, a P/E/G ratio of 2.50 and a beta of 0.77.

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

RB Global Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, May 29th. RB Global's dividend payout ratio is 57.14%.

Insider Transactions at RB Global

In related news, Director Adam Dewitt sold 800 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total value of $84,936.00. Following the completion of the transaction, the director owned 5,865 shares of the company's stock, valued at $622,687.05. This represents a 12.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Francis Kessler sold 45,658 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the completion of the transaction, the chief executive officer directly owned 107,569 shares of the company's stock, valued at $11,832,590. This trade represents a 29.80% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,133 shares of company stock valued at $7,843,729. Corporate insiders own 4.32% of the company's stock.

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.