Mercer Global Advisors Inc. ADV Cuts Stock Holdings in RB Global, Inc. (NYSE:RBA)

Mercer Global Advisors Inc. ADV decreased its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 2.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,727 shares of the business services provider’s stock after selling 115 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in RB Global were worth $517,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of RB Global by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock valued at $2,248,060,000 after buying an additional 358,752 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of RB Global by 9.8% during the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after buying an additional 753,700 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of RB Global by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider’s stock valued at $357,434,000 after buying an additional 264,778 shares during the last quarter. Boston Partners boosted its position in shares of RB Global by 6.9% during the fourth quarter. Boston Partners now owns 3,308,977 shares of the business services provider’s stock valued at $298,500,000 after buying an additional 214,181 shares during the last quarter. Finally, Fiera Capital Corp boosted its position in shares of RB Global by 4.1% during the fourth quarter. Fiera Capital Corp now owns 3,216,507 shares of the business services provider’s stock valued at $290,000,000 after buying an additional 125,275 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RBA shares. Robert W. Baird boosted their price objective on RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. StockNews.com raised RB Global from a “hold” rating to a “buy” rating in a research report on Friday. BMO Capital Markets boosted their price objective on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. CIBC boosted their price objective on RB Global from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research report on Friday. Finally, Royal Bank of Canada boosted their price objective on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, RB Global currently has an average rating of “Moderate Buy” and an average price target of $114.50.

RB Global Stock Down 1.7%

Shares of NYSE RBA opened at $104.16 on Tuesday. RB Global, Inc. has a one year low of $70.27 and a one year high of $107.99. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The business’s fifty day moving average price is $98.41 and its 200-day moving average price is $95.06. The stock has a market capitalization of $19.29 billion, a PE ratio of 51.82, a P/E/G ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.11%. RB Global’s dividend payout ratio is presently 57.14%.

Insider Activity

In related news, CEO James Francis Kessler sold 15,700 shares of the business’s stock in a transaction on Monday, March 17th. The stock was 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 directly owns 107,569 shares in the company, valued at approximately $10,521,323.89. The trade was a 12.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 600 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $98.63, for a total value of $59,178.00. Following the sale, the executive now owns 19,667 shares in the company, valued at approximately $1,939,756.21. The trade was a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,897 shares of company stock valued at $2,338,161 in the last 90 days. Insiders own 4.32% of the company’s stock.

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.