Mutual of America Capital Management LLC Sells 2,818 Shares of RB Global, Inc. $RBA

Mutual of America Capital Management LLC cut its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 92,096 shares of the business services provider’s stock after selling 2,818 shares during the quarter. Mutual of America Capital Management LLC’s holdings in RB Global were worth $9,780,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA grew its holdings in shares of RB Global by 3.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider’s stock worth $1,027,191,000 after buying an additional 352,530 shares in the last quarter. Fiera Capital Corp grew its holdings in shares of RB Global by 17.3% during the first quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider’s stock worth $379,150,000 after buying an additional 557,407 shares in the last quarter. Invesco Ltd. grew its holdings in shares of RB Global by 26.9% during the first quarter. Invesco Ltd. now owns 2,436,296 shares of the business services provider’s stock worth $244,360,000 after buying an additional 516,865 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of RB Global by 1.1% during the first quarter. Wellington Management Group LLP now owns 1,854,476 shares of the business services provider’s stock worth $186,098,000 after buying an additional 19,543 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its holdings in shares of RB Global by 44.4% during the first quarter. Alyeska Investment Group L.P. now owns 1,508,784 shares of the business services provider’s stock worth $151,331,000 after buying an additional 463,844 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on RBA. Weiss Ratings upgraded RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. BMO Capital Markets raised their price target on RB Global from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Raymond James Financial raised their price target on RB Global from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, National Bankshares decreased their price target on RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a research note on Thursday, October 9th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, RB Global currently has an average rating of “Moderate Buy” and an average target price of $124.00.

RB Global Stock Performance

RBA opened at $98.94 on Monday. RB Global, Inc. has a 12-month low of $80.42 and a 12-month high of $119.58. The stock has a market cap of $18.37 billion, a price-to-earnings ratio of 48.98, a PEG ratio of 2.30 and a beta of 0.65. The business has a 50 day moving average of $112.47 and a 200-day moving average of $107.10. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the firm posted $0.94 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. On average, equities research analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th were given a $0.31 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This is a positive change from RB Global’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. RB Global’s payout ratio is 61.39%.

Insider Activity

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $118.15, for a total value of $254,140.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.28% of the stock is currently owned by insiders.

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.