RB Global, Inc. (NYSE:RBA) Shares Sold by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. lessened its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,581 shares of the business services provider’s stock after selling 3,817 shares during the quarter. Mawer Investment Management Ltd. owned about 0.06% of RB Global worth $7,680,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of RB Global by 5.1% during the first quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock worth $1,827,528,000 after purchasing an additional 1,153,497 shares in the last quarter. EdgePoint Investment Group Inc. lifted its position in shares of RB Global by 1.4% during the first quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider’s stock worth $652,590,000 after purchasing an additional 114,225 shares in the last quarter. Vontobel Asset Management Inc. lifted its position in shares of RB Global by 66.5% during the fourth quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock worth $467,920,000 after purchasing an additional 2,655,388 shares in the last quarter. Cooke & Bieler LP increased its stake in shares of RB Global by 3.4% during the second quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider’s stock worth $252,865,000 after buying an additional 109,056 shares during the period. Finally, Fiera Capital Corp increased its stake in shares of RB Global by 5.7% during the second quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock worth $239,881,000 after buying an additional 168,945 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Performance

Shares of RB Global stock opened at $83.48 on Tuesday. The firm has a market capitalization of $15.27 billion, a P/E ratio of 50.29, a P/E/G ratio of 5.28 and a beta of 0.93. RB Global, Inc. has a 52 week low of $58.85 and a 52 week high of $87.45. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $80.56 and its two-hundred day moving average is $77.18.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The firm’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. Research analysts forecast that RB Global, Inc. will post 1.96 EPS for the current fiscal year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be issued a $0.29 dividend. This is an increase from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Wednesday, August 28th. RB Global’s dividend payout ratio is presently 69.88%.

Insider Activity

In other news, CEO James Francis Kessler sold 8,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $80.91, for a total value of $647,280.00. Following the completion of the sale, the chief executive officer now directly owns 78,104 shares of the company’s stock, valued at $6,319,394.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the sale, the insider now directly owns 19,271 shares of the company’s stock, valued at $1,595,638.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Francis Kessler sold 8,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $80.91, for a total value of $647,280.00. Following the completion of the sale, the chief executive officer now directly owns 78,104 shares of the company’s stock, valued at $6,319,394.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,472 shares of company stock valued at $1,669,216. 4.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Robert W. Baird upped their target price on shares of RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. BMO Capital Markets assumed coverage on shares of RB Global in a research note on Thursday, September 5th. They set an “outperform” rating and a $105.00 target price on the stock. Raymond James upped their target price on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, CIBC assumed coverage on shares of RB Global in a research note on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 target price on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $92.19.

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.