Massachusetts Financial Services Co. MA Increases Stock Position in RB Global, Inc. $RBA

Massachusetts Financial Services Co. MA lifted its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,726,926 shares of the business services provider’s stock after acquiring an additional 705,423 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 5.78% of RB Global worth $1,162,370,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in RBA. Spire Wealth Management lifted its stake in shares of RB Global by 1,090.6% in the third quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock worth $41,000 after buying an additional 349 shares in the last quarter. State of Wyoming bought a new stake in RB Global during the 2nd quarter worth approximately $46,000. Whipplewood Advisors LLC lifted its stake in shares of RB Global by 42.9% during the 2nd quarter. Whipplewood Advisors LLC now owns 456 shares of the business services provider’s stock valued at $48,000 after buying an additional 137 shares in the last quarter. SouthState Corp grew its position in shares of RB Global by 75.6% during the second quarter. SouthState Corp now owns 453 shares of the business services provider’s stock worth $48,000 after purchasing an additional 195 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after buying an additional 97 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Deborah Stein purchased 1,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were bought at an average price of $101.26 per share, for a total transaction of $101,260.00. Following the acquisition, the director directly owned 1,000 shares in the company, valued at $101,260. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 4.32% of the company’s stock.

Analysts Set New Price Targets

RBA has been the subject of several analyst reports. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Bank of America reduced their price objective on shares of RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Weiss Ratings downgraded shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. National Bank Financial raised RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective on the stock in a report on Monday, November 24th. Finally, National Bankshares lowered their price objective on RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 9th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $122.88.

RB Global Stock Performance

Shares of RBA stock opened at $112.92 on Friday. RB Global, Inc. has a 1 year low of $86.68 and a 1 year high of $119.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.23. The firm has a market cap of $20.99 billion, a price-to-earnings ratio of 54.03, a PEG ratio of 2.15 and a beta of 0.57. The stock’s 50-day moving average is $102.78 and its two-hundred day moving average is $106.95.

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

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, November 26th were given a dividend of $0.31 per share. The ex-dividend date was Wednesday, November 26th. This represents a $1.24 annualized dividend and a yield of 1.1%. RB Global’s dividend payout ratio is 59.33%.

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.