M&T Bank Corp cut its holdings in shares of RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA) by 78.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,963 shares of the business services provider’s stock after selling 24,635 shares during the period. M&T Bank Corp’s holdings in RB Global were worth $698,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in RB Global by 0.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider’s stock worth $3,674,000 after buying an additional 113 shares during the period. CoreCap Advisors LLC grew its holdings in RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after purchasing an additional 117 shares during the period. Fullcircle Wealth LLC grew its holdings in RB Global by 5.5% during the first quarter. Fullcircle Wealth LLC now owns 2,382 shares of the business services provider’s stock worth $235,000 after purchasing an additional 124 shares during the period. Jones Financial Companies Lllp grew its holdings in RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after purchasing an additional 129 shares during the period. Finally, Kampmann Melissa S. boosted its holdings in shares of RB Global by 0.5% during the first quarter. Kampmann Melissa S. now owns 29,900 shares of the business services provider’s stock worth $2,999,000 after acquiring an additional 150 shares during the period. 95.37% of the stock is currently owned by institutional investors.
RB Global Price Performance
Shares of RB Global stock opened at $107.81 on Wednesday. RB Global, Inc. has a one year low of $70.38 and a one year high of $111.07. The stock’s fifty day moving average is $106.00 and its 200 day moving average is $99.28. The stock has a market cap of $19.97 billion, a P/E ratio of 53.11, a P/E/G ratio of 2.51 and a beta of 0.77. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.21 and a current ratio of 1.31.
RB Global Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Thursday, May 29th were given a $0.29 dividend. The ex-dividend date was Thursday, May 29th. This represents a $1.16 annualized dividend and a yield of 1.08%. RB Global’s dividend payout ratio is currently 57.14%.
Analyst Upgrades and Downgrades
RBA has been the subject of a number of research analyst reports. Robert W. Baird boosted their price objective on RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. National Bankshares decreased their target price on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. National Bank Financial cut shares of RB Global from a “strong-buy” rating to a “hold” rating in a research note on Sunday, May 25th. Raymond James Financial increased their price objective on RB Global from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Finally, Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $115.79.
Check Out Our Latest Stock Report on RB Global
Insider Buying and Selling
In related news, insider Andrew John Fesler sold 9,075 shares of RB Global stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total value of $950,334.00. Following the completion of the transaction, the insider owned 5,532 shares in the company, valued at approximately $579,311.04. This trade represents a 62.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Adam Dewitt sold 800 shares of RB Global stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $84,936.00. Following the completion of the transaction, the director owned 5,865 shares of the company’s stock, valued at approximately $622,687.05. This represents a 12.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,075 shares of company stock worth $2,007,349. Insiders own 0.28% of the company’s stock.
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.
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