Legal & General Group Plc Decreases Position in RB Global, Inc. (NYSE:RBA)

Legal & General Group Plc reduced its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 34.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 714,643 shares of the business services provider's stock after selling 367,535 shares during the period. Legal & General Group Plc owned about 0.39% of RB Global worth $64,467,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Natixis Advisors LLC grew its stake in RB Global by 69.5% during the 4th quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider's stock worth $1,703,000 after buying an additional 7,737 shares during the last quarter. Mawer Investment Management Ltd. lifted its holdings in shares of RB Global by 15.7% in the fourth quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider's stock valued at $10,876,000 after purchasing an additional 16,397 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of RB Global by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock valued at $2,248,060,000 after acquiring an additional 358,752 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of RB Global during the fourth quarter valued at approximately $27,000. Finally, Pictet Asset Management Holding SA grew its position in shares of RB Global by 16.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 100,318 shares of the business services provider's stock valued at $9,050,000 after purchasing an additional 13,836 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

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RB Global Price Performance

Shares of RBA traded up $1.21 during mid-day trading on Thursday, reaching $97.79. The company had a trading volume of 243,790 shares, compared to its average volume of 1,069,149. RB Global, Inc. has a twelve month low of $69.83 and a twelve month high of $106.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The company's 50-day moving average is $98.07 and its 200-day moving average is $92.57. The company has a market capitalization of $18.07 billion, a P/E ratio of 48.58, a P/E/G ratio of 4.95 and a beta of 0.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.23). The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same quarter in the prior year, the firm earned $0.82 EPS. On average, equities analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.29 per share. The ex-dividend date was Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 1.19%. RB Global's dividend payout ratio (DPR) is presently 57.71%.

Analyst Ratings Changes

A number of research firms recently issued reports on RBA. CIBC dropped their target price on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a research report on Monday, February 3rd. BMO Capital Markets boosted their target price on shares of RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. National Bankshares dropped their price target on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Robert W. Baird increased their price target on RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, StockNews.com downgraded shares of RB Global from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $108.56.

Insiders Place Their Bets

In related news, CRO James J. Jeter sold 7,597 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the sale, the executive now owns 20,267 shares of the company's stock, valued at $1,983,125.95. This represents a 27.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the transaction, the chief executive officer now owns 107,569 shares of the company's stock, valued at approximately $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,897 shares of company stock valued at $2,338,161. 4.32% of the stock is currently owned by corporate insiders.

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.