RB Global, Inc. $RBA Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,726,926 shares of the business services provider’s stock after purchasing an additional 705,423 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.06% of RB Global worth $1,162,370,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of RBA. MJP Associates Inc. ADV lifted its position in shares of RB Global by 2.2% in the 2nd quarter. MJP Associates Inc. ADV now owns 4,434 shares of the business services provider’s stock worth $471,000 after buying an additional 95 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 97 shares during the last quarter. Archer Investment Corp grew its position in RB Global by 6.0% in the 2nd quarter. Archer Investment Corp now owns 1,760 shares of the business services provider’s stock worth $187,000 after purchasing an additional 100 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of RB Global by 12.9% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 938 shares of the business services provider’s stock worth $102,000 after buying an additional 107 shares during the period. Finally, California State Teachers Retirement System increased its position in RB Global by 1.1% in the 2nd quarter. California State Teachers Retirement System now owns 11,693 shares of the business services provider’s stock valued at $1,242,000 after acquiring an additional 124 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Stock Up 1.1%

RBA opened at $112.92 on Friday. RB Global, Inc. has a twelve month low of $86.68 and a twelve month high of $119.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.23. The business has a 50 day moving average price of $102.78 and a 200 day moving average price of $106.95. The firm has a market cap of $20.99 billion, a P/E ratio of 54.03, a price-to-earnings-growth ratio of 2.15 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.10. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. RB Global had a net margin of 9.65% and a return on equity of 9.66%. The business’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. Research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, November 26th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.1%. The ex-dividend date was Wednesday, November 26th. RB Global’s payout ratio is 59.33%.

Insider Buying and Selling

In other RB Global news, Director Deborah Stein bought 1,000 shares of RB Global stock in a transaction dated Thursday, November 13th. The shares were bought at an average price of $101.26 per share, with a total value of $101,260.00. Following the purchase, the director owned 1,000 shares of the company’s stock, valued at $101,260. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

RBA has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their price target on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 7th. National Bank Financial raised RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price target for the company in a research note on Monday, November 24th. Bank of America dropped their price objective on RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. National Bankshares lowered their target price on RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a report on Thursday, October 9th. Finally, Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $122.88.

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.