The Manufacturers Life Insurance Company Sells 49,476 Shares of RB Global, Inc. $RBA

The Manufacturers Life Insurance Company reduced its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,656,894 shares of the business services provider’s stock after selling 49,476 shares during the quarter. The Manufacturers Life Insurance Company owned 0.89% of RB Global worth $175,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RBA. Norges Bank purchased a new position in shares of RB Global in the second quarter worth approximately $255,798,000. Samlyn Capital LLC purchased a new position in shares of RB Global during the 1st quarter worth $118,821,000. Third Point LLC purchased a new position in shares of RB Global during the 1st quarter worth $95,285,000. Nuveen LLC bought a new stake in shares of RB Global during the 1st quarter valued at $54,584,000. Finally, Alyeska Investment Group L.P. increased its stake in shares of RB Global by 44.4% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,508,784 shares of the business services provider’s stock worth $151,331,000 after purchasing an additional 463,844 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Transactions at RB Global

In related news, Director Deborah Stein bought 1,000 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were acquired at an average cost of $101.26 per share, for a total transaction of $101,260.00. Following the purchase, the director directly owned 1,000 shares of the company’s stock, valued at approximately $101,260. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on RBA. National Bank Financial upgraded RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price on the stock in a research report on Monday, November 24th. Bank of America lowered their price objective on RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings cut shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Finally, Royal Bank Of Canada lifted their price target on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.88.

RB Global Stock Performance

Shares of NYSE RBA opened at $105.16 on Friday. The firm’s fifty day moving average is $100.50 and its two-hundred day moving average is $106.81. RB Global, Inc. has a 52-week low of $86.68 and a 52-week high of $119.58. The company has a market cap of $19.55 billion, a P/E ratio of 50.32, a P/E/G ratio of 2.24 and a beta of 0.56. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.23.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.10. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. RB Global had a return on equity of 9.66% and a net margin of 9.65%.The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 earnings per share. As a group, analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, November 26th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, November 26th. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. RB Global’s dividend payout ratio (DPR) is presently 59.33%.

RB Global 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.