RB Global, Inc. $RBA Stake Decreased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC cut its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 67.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,346 shares of the business services provider’s stock after selling 7,005 shares during the period. Manning & Napier Advisors LLC’s holdings in RB Global were worth $363,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RBA. AQR Capital Management LLC raised its stake in RB Global by 94.3% during the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock valued at $1,031,000 after acquiring an additional 5,090 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of RB Global by 53.1% during the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 204 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of RB Global by 857.9% during the first quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock valued at $375,000 after purchasing an additional 3,346 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of RB Global by 35.6% during the first quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock valued at $33,940,000 after purchasing an additional 88,813 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in RB Global in the first quarter worth about $4,103,000. 95.37% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Deborah Stein acquired 1,000 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $101.26 per share, for a total transaction of $101,260.00. Following the acquisition, the director owned 1,000 shares in the company, valued at approximately $101,260. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.32% of the company’s stock.

RB Global Price Performance

NYSE RBA opened at $111.60 on Friday. RB Global, Inc. has a 1 year low of $86.68 and a 1 year high of $119.58. The business’s fifty day moving average is $102.53 and its two-hundred day moving average is $106.90. The stock has a market capitalization of $20.74 billion, a P/E ratio of 53.40, a P/E/G ratio of 2.11 and a beta of 0.57. 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 released its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.10. The business 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 company’s revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company posted $0.71 EPS. 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 business also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, November 26th were paid a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. RB Global’s dividend payout ratio (DPR) is currently 59.33%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RBA. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings lowered shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. National Bank Financial upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective on the stock in a research note on Monday, November 24th. National Bankshares dropped their target price on RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a report on Thursday, October 9th. Finally, Bank of America cut their target price on RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, RB Global has a consensus rating of “Moderate Buy” and a consensus price target of $122.88.

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.