Massachusetts Financial Services Co. MA Acquires 165,260 Shares of RB Global, Inc. $RBA

by · The Markets Daily

Massachusetts Financial Services Co. MA lifted its holdings in RB Global, Inc. (NYSE:RBAFree Report) (TSE:RBA) by 1.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,892,186 shares of the business services provider’s stock after purchasing an additional 165,260 shares during the period. Massachusetts Financial Services Co. MA owned about 5.86% of RB Global worth $1,120,479,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Geneos Wealth Management Inc. lifted its stake in shares of RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after purchasing an additional 97 shares during the period. Coldstream Capital Management Inc. raised its stake in RB Global by 5.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock worth $221,000 after acquiring an additional 105 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in RB Global by 12.9% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 938 shares of the business services provider’s stock worth $102,000 after acquiring an additional 107 shares during the period. Central Pacific Bank Trust Division raised its stake in RB Global by 41.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock worth $37,000 after acquiring an additional 107 shares during the period. Finally, Xponance Inc. raised its stake in RB Global by 0.5% during the 3rd quarter. Xponance Inc. now owns 22,039 shares of the business services provider’s stock worth $2,388,000 after acquiring an additional 118 shares during the period. Institutional investors own 95.37% of the company’s stock.

Insiders Place Their Bets

In related news, CEO James Francis Kessler sold 20,742 shares of the firm’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total value of $2,385,330.00. Following the completion of the transaction, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at approximately $12,370,435. This trade represents a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Deborah Stein bought 400 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was acquired at an average cost of $98.74 per share, with a total value of $39,496.00. Following the completion of the acquisition, the director owned 1,400 shares of the company’s stock, valued at $138,236. This represents a 40.00% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.57% of the company’s stock.

RB Global Trading Up 3.4%

RB Global stock opened at $103.28 on Friday. The stock has a market cap of $19.20 billion, a P/E ratio of 50.63, a PEG ratio of 1.52 and a beta of 0.57. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 1.02. RB Global, Inc. has a 1 year low of $93.58 and a 1 year high of $119.58. The firm’s 50 day moving average price is $102.49 and its 200-day moving average price is $103.72.

RB Global (NYSE:RBAGet Free Report) (TSE:RBA) last posted its earnings results on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm posted $0.95 earnings per share. RB Global’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 9th were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. RB Global’s dividend payout ratio (DPR) is 60.78%.

Wall Street Analyst Weigh In

A number of research firms have commented on RBA. Raymond James Financial raised their target price on shares of RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Weiss Ratings upgraded shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. BMO Capital Markets raised their target price on shares of RB Global from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Finally, Royal Bank Of Canada raised their target price on shares of RB Global from $137.00 to $146.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $129.29.

View Our Latest Report on RBA

RB Global 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.

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