Man Group plc Sells 11,775 Shares of RB Global, Inc. (NYSE:RBA)

Man Group plc reduced its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 27.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,221 shares of the business services provider’s stock after selling 11,775 shares during the quarter. Man Group plc’s holdings in RB Global were worth $2,816,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. CoreCap Advisors LLC raised its holdings in RB Global by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after purchasing an additional 117 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after purchasing an additional 129 shares in the last quarter. Proficio Capital Partners LLC bought a new position in RB Global in the fourth quarter worth about $36,000. Whipplewood Advisors LLC bought a new position in RB Global in the fourth quarter worth about $37,000. Finally, Geneos Wealth Management Inc. bought a new position in RB Global in the fourth quarter worth about $40,000. 95.37% of the stock is currently owned by institutional investors.

RB Global Stock Performance

RBA opened at $108.59 on Friday. RB Global, Inc. has a 52-week low of $70.27 and a 52-week high of $109.25. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The company has a market cap of $20.10 billion, a P/E ratio of 54.02, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78. The firm’s 50-day moving average price is $99.91 and its 200-day moving average price is $96.13.

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

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.07%. RB Global’s dividend payout ratio is currently 57.14%.

Insider Activity at RB Global

In related news, insider Andrew John Fesler sold 9,075 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total value of $950,334.00. Following the sale, the insider now owns 5,532 shares in the company, valued at $579,311.04. This represents a 62.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO James J. Jeter sold 7,597 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.85, for a total value of $743,366.45. Following the completion of the sale, the executive now owns 20,267 shares in the company, valued at approximately $1,983,125.95. This represents a 27.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,472 shares of company stock worth $3,867,745 over the last quarter. Insiders own 4.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RBA shares. BMO Capital Markets boosted their target price on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Royal Bank of Canada boosted their target price on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. National Bankshares reduced their target price on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Raymond James upped their price objective on shares of RB Global from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of RB Global from a “hold” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $114.50.

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.