Marks Group Wealth Management Inc lessened its holdings in RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA) by 9.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 77,678 shares of the business services provider’s stock after selling 8,169 shares during the period. Marks Group Wealth Management Inc’s holdings in RB Global were worth $7,991,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the business. Cerity Partners LLC lifted its stake in shares of RB Global by 84.1% in the 4th quarter. Cerity Partners LLC now owns 3,886 shares of the business services provider’s stock worth $400,000 after purchasing an additional 1,775 shares during the period. LPL Financial LLC raised its stake in RB Global by 6.8% during the 4th quarter. LPL Financial LLC now owns 143,922 shares of the business services provider’s stock worth $14,805,000 after acquiring an additional 9,163 shares during the period. Franklin Resources Inc. raised its stake in RB Global by 7.0% during the 4th quarter. Franklin Resources Inc. now owns 52,959 shares of the business services provider’s stock worth $5,452,000 after acquiring an additional 3,486 shares during the period. Fiera Capital Corp raised its stake in RB Global by 2.2% during the 4th quarter. Fiera Capital Corp now owns 4,157,985 shares of the business services provider’s stock worth $428,223,000 after acquiring an additional 90,982 shares during the period. Finally, Syon Capital LLC bought a new stake in RB Global during the 4th quarter worth approximately $208,000. Institutional investors own 95.37% of the company’s stock.
RB Global Trading Up 0.3%
Shares of RBA opened at $104.76 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. RB Global, Inc. has a 1 year low of $93.58 and a 1 year high of $119.58. The company has a 50 day simple moving average of $102.91 and a two-hundred day simple moving average of $104.11. The firm has a market cap of $19.48 billion, a P/E ratio of 48.73, a price-to-earnings-growth ratio of 1.66 and a beta of 0.57.
RB Global Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, May 27th. RB Global’s dividend payout ratio (DPR) is 57.67%.
Insider Transactions at RB Global
In related news, Director Deborah Stein acquired 425 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average cost of $103.15 per share, with a total value of $43,838.75. Following the acquisition, the director directly owned 1,825 shares in the company, valued at $188,248.75. This represents a 30.36% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.57% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research firms have commented on RBA. Stephens restated an “equal weight” rating and set a $96.00 target price on shares of RB Global in a research note on Tuesday, May 5th. Weiss Ratings restated a “buy (b-)” rating on shares of RB Global in a research note on Tuesday, May 26th. Barclays began coverage on shares of RB Global in a research note on Thursday, May 28th. They set an “overweight” rating and a $124.00 target price on the stock. BMO Capital Markets restated an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada raised their target price on shares of RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.13.
View Our Latest Stock Report on RB Global
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.
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