RB Global, Inc. (NYSE:RBA) Position Lessened by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,888,656 shares of the business services provider's stock after selling 72,209 shares during the quarter. Massachusetts Financial Services Co. MA owned about 5.35% of RB Global worth $892,056,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of RBA. Central Pacific Bank Trust Division purchased a new stake in shares of RB Global during the 4th quarter valued at $27,000. Versant Capital Management Inc raised its holdings in shares of RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock worth $28,000 after purchasing an additional 176 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after purchasing an additional 129 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in RB Global during the 4th quarter worth approximately $36,000. Finally, Whipplewood Advisors LLC purchased a new position in RB Global in the fourth quarter valued at approximately $37,000. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Stock Down 6.3 %

Shares of NYSE:RBA traded down $6.13 during trading on Friday, hitting $91.91. The company's stock had a trading volume of 1,251,234 shares, compared to its average volume of 1,054,280. The company has a market capitalization of $16.99 billion, a PE ratio of 45.73, a PEG ratio of 4.95 and a beta of 0.90. RB Global, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The stock's 50-day moving average price is $97.22 and its two-hundred day moving average price is $91.91.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the company earned $0.82 earnings per share. As a group, sell-side analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.26%. RB Global's dividend payout ratio (DPR) is 57.71%.

Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was 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 $10,521,323.89. This trade represents a 12.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO James J. Jeter sold 600 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $98.63, for a total value of $59,178.00. Following the completion of the sale, the executive now owns 19,667 shares of the company's stock, valued at $1,939,756.21. This trade represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,897 shares of company stock valued at $2,338,161 in the last ninety days. Corporate insiders own 4.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RBA. StockNews.com lowered shares of RB Global from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Royal Bank of Canada increased their price target on RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Raymond James boosted their price objective on RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. CIBC lowered their target price on RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a research note on Monday, February 3rd. Finally, Robert W. Baird raised their target price on RB Global from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $107.64.

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.