Mercer Global Advisors Inc. ADV Has $371,000 Stock Holdings in RB Global, Inc. (NYSE:RBA)

Mercer Global Advisors Inc. ADV trimmed its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 28.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,815 shares of the business services provider’s stock after selling 1,917 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in RB Global were worth $371,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brevan Howard Capital Management LP acquired a new stake in shares of RB Global during the 4th quarter worth $2,009,000. Intech Investment Management LLC acquired a new stake in shares of RB Global during the 1st quarter worth $613,000. Price T Rowe Associates Inc. MD grew its holdings in shares of RB Global by 25.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider’s stock worth $27,927,000 after purchasing an additional 74,809 shares in the last quarter. MJP Associates Inc. ADV grew its holdings in shares of RB Global by 10.7% during the 2nd quarter. MJP Associates Inc. ADV now owns 4,159 shares of the business services provider’s stock worth $318,000 after purchasing an additional 401 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of RB Global by 3.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,079,664 shares of the business services provider’s stock worth $139,360,000 after purchasing an additional 61,980 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RBA has been the topic of several analyst reports. BMO Capital Markets began coverage on RB Global in a report on Thursday, September 5th. They set an “outperform” rating and a $105.00 target price on the stock. Royal Bank of Canada upped their price objective on RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Bank of America upped their price objective on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Robert W. Baird upped their price objective on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, CIBC started coverage on RB Global in a research report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 target price for the company. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, RB Global presently has a consensus rating of “Moderate Buy” and an average price target of $92.19.

RB Global Price Performance

RB Global stock opened at $80.28 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. The business has a 50-day simple moving average of $82.04 and a 200 day simple moving average of $77.95. RB Global, Inc. has a 52 week low of $58.85 and a 52 week high of $87.45. The stock has a market cap of $14.68 billion, a price-to-earnings ratio of 48.36, a PEG ratio of 5.38 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the company posted $0.42 EPS. RB Global’s quarterly revenue was down .9% compared to the same quarter last year. On average, research analysts forecast that RB Global, Inc. will post 1.96 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.44%. This is a boost from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, August 28th. RB Global’s dividend payout ratio is presently 69.88%.

Insider Buying and Selling

In other RB Global news, CRO James J. Jeter sold 2,920 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total transaction of $230,563.20. Following the sale, the executive now directly owns 23,267 shares of the company’s stock, valued at $1,837,162.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other RB Global news, CRO James J. Jeter sold 3,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.55, for a total transaction of $256,650.00. Following the sale, the executive now directly owns 20,267 shares of the company’s stock, valued at approximately $1,733,841.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO James J. Jeter sold 2,920 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total value of $230,563.20. Following the completion of the transaction, the executive now directly owns 23,267 shares of the company’s stock, valued at $1,837,162.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,601 shares of company stock valued at $3,720,043. 4.32% of the stock is owned by company 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.