Pacer Advisors Inc. Sells 25,357 Shares of RB Global, Inc. (NYSE:RBA)

Pacer Advisors Inc. trimmed its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 61.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,002 shares of the business services provider’s stock after selling 25,357 shares during the period. Pacer Advisors Inc.’s holdings in RB Global were worth $1,605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of RBA. FMR LLC lifted its position in RB Global by 137.5% in the 4th quarter. FMR LLC now owns 2,804,404 shares of the business services provider’s stock valued at $252,985,000 after acquiring an additional 1,623,429 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of RB Global in the 4th quarter valued at about $39,080,000. FIL Ltd lifted its holdings in shares of RB Global by 26.4% in the fourth quarter. FIL Ltd now owns 2,030,696 shares of the business services provider’s stock valued at $183,189,000 after purchasing an additional 424,060 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of RB Global by 3.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider’s stock worth $1,027,191,000 after buying an additional 352,530 shares during the period. Finally, Ancora Advisors LLC boosted its position in shares of RB Global by 57.4% during the fourth quarter. Ancora Advisors LLC now owns 903,385 shares of the business services provider’s stock worth $81,494,000 after buying an additional 329,477 shares during the period. 95.37% of the stock is currently owned by institutional investors.

Insider Activity at RB Global

In other RB Global news, insider Andrew John Fesler sold 9,075 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total value of $950,334.00. Following the transaction, the insider directly owned 5,532 shares in the company, valued at $579,311.04. The trade was a 62.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Adam Dewitt sold 800 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $84,936.00. Following the completion of the transaction, the director directly owned 5,865 shares in the company, valued at $622,687.05. The trade was a 12.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,133 shares of company stock worth $7,843,729 in the last three months. 4.32% of the stock is owned by company insiders.

Analyst Ratings Changes

RBA has been the topic of a number of recent research reports. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. National Bankshares lowered their price objective on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Royal Bank Of Canada set a $125.00 price objective on shares of RB Global and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Raymond James Financial raised their target price on shares of RB Global from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Finally, CIBC lifted their price target on shares of RB Global from $118.00 to $121.00 and gave the company an “outperformer” rating in a research note on Friday, July 18th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $116.21.

RB Global Price Performance

Shares of RBA opened at $108.60 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.50. The company’s fifty day simple moving average is $106.56 and its 200 day simple moving average is $100.56. RB Global, Inc. has a 1-year low of $70.38 and a 1-year high of $111.71. The company has a market cap of $20.15 billion, a price-to-earnings ratio of 53.50, a PEG ratio of 2.50 and a beta of 0.77.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business earned $0.90 EPS. RB Global’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, research analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were given a $0.29 dividend. The ex-dividend date was Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.07%. RB Global’s payout ratio is 57.14%.

About RB Global

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.