Marks Group Wealth Management Inc Has $6.42 Million Stake in RB Global, Inc. $RBA

Marks Group Wealth Management Inc lowered its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 13.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,966 shares of the business services provider’s stock after selling 10,712 shares during the period. Marks Group Wealth Management Inc’s holdings in RB Global were worth $6,419,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its holdings in RB Global by 1.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider’s stock valued at $1,120,479,000 after buying an additional 165,260 shares in the last quarter. EdgePoint Investment Group Inc. boosted its holdings in RB Global by 11.9% in the 4th quarter. EdgePoint Investment Group Inc. now owns 7,701,648 shares of the business services provider’s stock valued at $792,934,000 after purchasing an additional 821,319 shares during the period. State Street Corp grew its position in RB Global by 1.7% during the fourth quarter. State Street Corp now owns 6,290,640 shares of the business services provider’s stock worth $647,118,000 after buying an additional 104,286 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of RB Global by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider’s stock worth $513,930,000 after purchasing an additional 250,887 shares in the last quarter. Finally, Fiera Capital Corp grew its stake in RB Global by 2.2% during the fourth quarter. Fiera Capital Corp now owns 4,157,985 shares of the business services provider’s stock worth $428,223,000 after buying an additional 90,982 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of RB Global from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Royal Bank Of Canada lifted their target price on RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Raymond James Financial raised RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target for the company in a research note on Tuesday, June 30th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $96.00 price objective on shares of RB Global in a research note on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $127.12.

RB Global Stock Up 2.1%

Shares of RB Global stock opened at $111.44 on Thursday. The stock’s 50-day moving average is $107.68 and its 200 day moving average is $106.02. RB Global, Inc. has a one year low of $93.58 and a one year high of $119.58. The firm has a market cap of $20.72 billion, a price-to-earnings ratio of 51.83, a PEG ratio of 1.71 and a beta of 0.55. 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 (NYSE:RBA) (TSE:RBA) last issued its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The business had revenue of $888.01 million during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted $0.89 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities research analysts anticipate that RB Global, Inc. will post 4.16 EPS for the current year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th were paid a $0.31 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. RB Global’s payout ratio is currently 57.67%.

Insider Transactions at RB Global

In related news, Director Deborah Stein purchased 425 shares of RB Global stock in a transaction on Tuesday, May 19th. The stock was acquired at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the acquisition, the director owned 1,825 shares of the company’s stock, valued at $188,248.75. This trade represents a 30.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% of the stock is currently owned by corporate 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.