Mather Group LLC. Buys Shares of 1,361 RB Global, Inc. (NYSE:RBA)

Mather Group LLC. bought a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,361 shares of the business services provider’s stock, valued at approximately $104,000.

Several other hedge funds and other institutional investors also recently modified their holdings of RBA. Vanguard Group Inc. boosted its stake in shares of RB Global by 144.9% in the third quarter. Vanguard Group Inc. now owns 22,647,288 shares of the business services provider’s stock valued at $1,415,456,000 after buying an additional 13,400,942 shares in the last quarter. Vontobel Asset Management Inc. boosted its stake in shares of RB Global by 66.5% in the fourth quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock valued at $467,920,000 after buying an additional 2,655,388 shares in the last quarter. Norges Bank purchased a new stake in shares of RB Global in the fourth quarter valued at approximately $141,970,000. Legal & General Group Plc purchased a new stake in shares of RB Global in the third quarter valued at approximately $49,791,000. Finally, Wellington Management Group LLP boosted its stake in shares of RB Global by 26.8% in the fourth quarter. Wellington Management Group LLP now owns 1,183,761 shares of the business services provider’s stock valued at $79,603,000 after buying an additional 250,109 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at RB Global

In related news, CEO James Francis Kessler sold 8,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 78,104 shares in the company, valued at $6,319,394.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CRO James J. Jeter sold 14,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $75.43, for a total value of $1,056,020.00. Following the completion of the transaction, the executive now directly owns 28,267 shares in the company, valued at $2,132,179.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 8,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 78,104 shares of the company’s stock, valued at $6,319,394.64. The disclosure for this sale can be found here. Insiders sold a total of 43,867 shares of company stock valued at $3,370,272 over the last three months. 4.32% of the stock is currently owned by insiders.

RB Global Stock Performance

NYSE RBA opened at $77.60 on Friday. RB Global, Inc. has a fifty-two week low of $55.09 and a fifty-two week high of $81.74. The stock has a market cap of $14.19 billion, a price-to-earnings ratio of 46.75, a price-to-earnings-growth ratio of 5.35 and a beta of 0.88. The business has a fifty day moving average of $74.84 and a 200-day moving average of $71.24. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.58.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.15. RB Global had a return on equity of 6.87% and a net margin of 8.08%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. As a group, analysts predict that RB Global, Inc. will post 2.04 earnings per share for the current fiscal year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, May 29th were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.39%. RB Global’s dividend payout ratio (DPR) is 65.06%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RBA. Royal Bank of Canada lifted their price target on RB Global from $75.00 to $93.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. CIBC started coverage on RB Global in a report on Tuesday. They set a “sector outperform” rating and a $95.00 price objective for the company. Raymond James lifted their price objective on RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Scotiabank lifted their price objective on RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 24th. Finally, Bank of America lifted their price objective on RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, RB Global presently has a consensus rating of “Moderate Buy” and an average price target of $84.14.

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.