Mn Services Vermogensbeheer B.V. Trims Stake in RB Global, Inc. (NYSE:RBA)

Mn Services Vermogensbeheer B.V. reduced its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,300 shares of the business services provider’s stock after selling 5,100 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in RB Global were worth $6,653,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Natixis Advisors LLC grew its position in shares of RB Global by 69.5% during the 4th quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider’s stock valued at $1,703,000 after purchasing an additional 7,737 shares in the last quarter. Mawer Investment Management Ltd. grew its position in shares of RB Global by 15.7% during the 4th quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider’s stock valued at $10,876,000 after purchasing an additional 16,397 shares in the last quarter. Vanguard Group Inc. grew its position in shares of RB Global by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock valued at $2,248,060,000 after purchasing an additional 358,752 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of RB Global by 9.2% during the 4th quarter. MetLife Investment Management LLC now owns 103,934 shares of the business services provider’s stock valued at $9,376,000 after purchasing an additional 8,723 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of RB Global by 16.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 100,318 shares of the business services provider’s stock valued at $9,050,000 after purchasing an additional 13,836 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RBA has been the subject of a number of research analyst reports. Robert W. Baird lifted their price objective on shares of RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Royal Bank of Canada lifted their price objective 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. Raymond James lifted their price objective on shares of RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. BMO Capital Markets lifted their price objective 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. Finally, National Bank Financial downgraded shares of RB Global from a “strong-buy” rating to a “hold” rating in a report on Sunday, May 25th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.50.

RB Global Stock Performance

RB Global stock opened at $106.74 on Tuesday. 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 capitalization of $19.77 billion, a PE ratio of 53.11, a P/E/G ratio of 4.95 and a beta of 0.78. The firm has a fifty day simple moving average of $102.81 and a two-hundred day simple moving average of $97.59. RB Global, Inc. has a twelve month low of $70.38 and a twelve month high of $109.25.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89. The business had revenue of $1.06 billion during 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 firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 earnings per share. Research analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global’s dividend payout ratio (DPR) is 57.14%.

Insider Activity

In related news, insider Andrew John Fesler sold 9,075 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total transaction of $950,334.00. Following the transaction, the insider now owns 5,532 shares in the company, valued at $579,311.04. The trade was 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 through this hyperlink. Also, CRO James J. Jeter sold 3,500 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $104.38, for a total transaction of $365,330.00. Following the transaction, the executive now owns 16,167 shares in the company, valued at $1,687,511.46. This represents a 17.80% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,675 shares of company stock valued at $2,066,527. 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.