Massachusetts Financial Services Co. MA Has $679.14 Million Stock Position in RB Global, Inc. (NYSE:RBA)

Massachusetts Financial Services Co. MA lessened its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,153,125 shares of the business services provider's stock after selling 166,989 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 5.56% of RB Global worth $679,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Headlands Technologies LLC bought a new stake in RB Global in the 3rd quarter valued at $26,000. Cary Street Partners Investment Advisory LLC bought a new position in RB Global during the third quarter worth about $26,000. Oakworth Capital Inc. boosted its holdings in RB Global by 53.3% during the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider's stock valued at $31,000 after purchasing an additional 162 shares in the last quarter. GAMMA Investing LLC bought a new stake in RB Global in the fourth quarter valued at $54,000. Finally, Oliver Lagore Vanvalin Investment Group grew its holdings in shares of RB Global by 63.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 1,448 shares of the business services provider's stock worth $97,000 after purchasing an additional 562 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Insider Transactions at RB Global

In related news, insider Darren Jeffrey Watt sold 1,100 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total value of $84,755.00. Following the sale, the insider now owns 21,103 shares in the company, valued at $1,625,986.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other RB Global news, insider Darren Jeffrey Watt sold 1,100 shares of RB Global stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the sale, the insider now owns 21,103 shares of the company's stock, valued at $1,625,986.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO James J. Jeter sold 11,416 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $76.32, for a total value of $871,269.12. Following the transaction, the executive now owns 30,915 shares in the company, valued at $2,359,432.80. The disclosure for this sale can be found here. Insiders sold 14,816 shares of company stock worth $1,133,055 over the last quarter. Corporate insiders own 4.10% of the company's stock.

Wall Street Analysts Forecast Growth

RBA has been the subject of a number of research reports. Scotiabank lifted their price objective on RB Global from $88.00 to $89.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 24th. Raymond James lifted their price objective on shares of RB Global from $78.00 to $90.00 and gave the stock an "outperform" rating in a research report on Monday, February 26th. Royal Bank of Canada increased their target price on RB Global from $75.00 to $93.00 and gave the stock an "outperform" rating in a research note on Monday, February 26th. Finally, StockNews.com raised shares of RB Global from a "sell" rating to a "hold" rating in a report on Friday, February 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, RB Global currently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

RB Global Trading Up 1.2 %

RBA traded up $0.89 during trading on Monday, hitting $77.37. The company's stock had a trading volume of 940,834 shares, compared to its average volume of 814,881. The firm has a market capitalization of $14.15 billion, a P/E ratio of 46.61, a PEG ratio of 5.75 and a beta of 0.88. RB Global, Inc. has a twelve month low of $51.07 and a twelve month high of $80.67. The stock's fifty day moving average price is $74.48 and its 200-day moving average price is $68.78. The company has a quick ratio of 1.23, a current ratio of 1.35 and a debt-to-equity ratio of 0.61.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.14. RB Global had a net margin of 8.08% and a return on equity of 6.91%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company earned $0.40 EPS. RB Global's quarterly revenue was up 134.5% compared to the same quarter last year. Analysts anticipate that RB Global, Inc. will post 1.9 EPS for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, May 29th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Wednesday, May 29th. RB Global's dividend payout ratio (DPR) is currently 65.06%.

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.

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