The Manufacturers Life Insurance Company Has $144.69 Million Stock Position in RB Global, Inc. $RBA

The Manufacturers Life Insurance Company lowered its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 37.3% during the first quarter, Holdings Channel reports. The firm owned 1,510,029 shares of the business services provider’s stock after selling 900,108 shares during the period. The Manufacturers Life Insurance Company’s holdings in RB Global were worth $144,687,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. MV Capital Management Inc. acquired a new stake in RB Global during the fourth quarter worth about $29,000. Bayban bought a new position in RB Global in the 4th quarter valued at about $34,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of RB Global in the 1st quarter valued at approximately $43,000. State of Wyoming acquired a new position in shares of RB Global in the 2nd quarter valued at approximately $46,000. Finally, Nemes Rush Group LLC acquired a new position in shares of RB Global in the 4th quarter valued at approximately $54,000. Institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

RBA has been the topic of several analyst reports. Zacks Research upgraded shares of RB Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 3rd. BMO Capital Markets restated an “outperform” rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Royal Bank Of Canada upped their target price on RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Raymond James Financial raised RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 target price on the stock in a report on Tuesday, June 30th. Finally, Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, RB Global currently has a consensus rating of “Buy” and a consensus target price of $127.57.

RB Global Price Performance

Shares of NYSE:RBA opened at $116.70 on Wednesday. RB Global, Inc. has a one year low of $93.58 and a one year high of $119.58. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. The company has a market cap of $21.64 billion, a price-to-earnings ratio of 54.28, a PEG ratio of 1.82 and a beta of 0.55. The firm has a 50 day simple moving average of $109.36 and a 200 day simple moving average of $106.50.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. The firm had revenue of $888.01 million for the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Research analysts predict that RB Global, Inc. will post 4.16 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a yield of 1.1%. This is an increase from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio is presently 57.67%.

Insiders Place Their Bets

In other news, Director Deborah Stein bought 425 shares of the stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $103.15 per share, with a total value of $43,838.75. Following the acquisition, the director directly owned 1,825 shares in the company, valued at approximately $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by corporate insiders.

RB Global 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.