The Manufacturers Life Insurance Company Sells 651,162 Shares of RB Global, Inc. (NYSE:RBA)

The Manufacturers Life Insurance Company reduced its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 26.7% in the 4th quarter, Holdings Channel reports. The firm owned 1,784,029 shares of the business services provider’s stock after selling 651,162 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in RB Global were worth $161,185,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new stake in RB Global during the 3rd quarter worth about $465,000. Retirement Systems of Alabama grew its holdings in RB Global by 1.1% during the 3rd quarter. Retirement Systems of Alabama now owns 287,684 shares of the business services provider’s stock worth $23,156,000 after acquiring an additional 3,192 shares during the period. Versant Capital Management Inc grew its holdings in RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after acquiring an additional 176 shares during the period. Everence Capital Management Inc. acquired a new stake in RB Global during the 4th quarter worth about $447,000. Finally, Central Pacific Bank Trust Division acquired a new stake in RB Global during the 4th quarter worth about $27,000. 95.37% of the stock is owned by institutional investors.

RB Global Stock Performance

Shares of NYSE RBA opened at $98.85 on Tuesday. The stock has a market cap of $18.30 billion, a price-to-earnings ratio of 49.18, a P/E/G ratio of 4.95 and a beta of 0.90. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90. The stock’s 50-day moving average is $98.29 and its 200 day moving average is $93.71.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the firm earned $0.82 earnings per share. On average, sell-side analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. BMO Capital Markets raised their target price on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. National Bankshares reduced their target price 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. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Royal Bank of Canada raised their target price on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, CIBC reduced their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.36.

Insider Buying and Selling at RB Global

In other RB Global news, CRO James J. Jeter sold 600 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $98.63, for a total transaction of $59,178.00. Following the completion of the sale, the executive now directly owns 19,667 shares in the company, valued at approximately $1,939,756.21. This trade represents a 2.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the sale, the chief executive officer now owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,897 shares of company stock valued at $2,338,161 in the last quarter. Company insiders own 4.32% of the company’s stock.

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.