Mawer Investment Management Ltd. Raises Stock Holdings in RB Global, Inc. (NYSE:RBA)

18 Nov 2024, 10:50 by Doug Wharley · The Cerbat Gem

Mawer Investment Management Ltd. raised its position in RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA) by 3.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 104,167 shares of the business services provider’s stock after buying an additional 3,586 shares during the quarter. Mawer Investment Management Ltd. owned about 0.06% of RB Global worth $8,384,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RBA. Vanguard Group Inc. lifted its holdings in RB Global by 5.1% in the first quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock valued at $1,827,528,000 after acquiring an additional 1,153,497 shares during the period. EdgePoint Investment Group Inc. boosted its holdings in 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 buying an additional 114,225 shares in the last quarter. Cooke & Bieler LP grew its position in 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. Fiera Capital Corp grew its position in 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. Finally, Boston Partners increased its holdings in RB Global by 4.1% in the first quarter. Boston Partners now owns 3,029,758 shares of the business services provider’s stock valued at $230,543,000 after buying an additional 120,469 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Up 0.8 %

RB Global stock traded up $0.78 during midday trading on Monday, hitting $93.54. 9,412 shares of the company were exchanged, compared to its average volume of 1,012,749. The company has a market cap of $17.25 billion, a PE ratio of 50.41, a price-to-earnings-growth ratio of 4.55 and a beta of 0.92. The company’s fifty day moving average price is $84.50 and its 200-day moving average price is $80.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. RB Global, Inc. has a fifty-two week low of $60.84 and a fifty-two week high of $94.85.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Wednesday, November 27th. RB Global’s dividend payout ratio (DPR) is currently 63.04%.

Insider Transactions at RB Global

In other news, CRO James J. Jeter sold 3,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.55, for a total value of $256,650.00. Following the sale, the executive now owns 20,267 shares in the company, valued at approximately $1,733,841.85. This represents a 12.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the transaction, the chief executive officer now owns 86,247 shares of the company’s stock, valued at $7,261,134.93. This trade represents a 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,766 shares of company stock valued at $3,248,118. 4.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RBA shares. Royal Bank of Canada upped their price target on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Robert W. Baird upped their target price on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Raymond James boosted their price target on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Bank of America lifted their target price on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, BMO Capital Markets boosted their target price on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, RB Global has a consensus rating of “Moderate Buy” and a consensus target price of $98.36.

Check Out Our Latest Research Report on RB Global

RB Global Company Profile

(Free Report)

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.