M&T Bank Corp Trims Stock Holdings in RB Global, Inc. (NYSE:RBA)

M&T Bank Corp reduced its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 18.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,598 shares of the business services provider’s stock after selling 7,330 shares during the period. M&T Bank Corp’s holdings in RB Global were worth $2,850,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RBA. Vontobel Holding Ltd. raised its holdings in RB Global by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after buying an additional 753,700 shares during the period. National Bank of Canada FI raised its holdings in RB Global by 309.6% in the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock valued at $65,014,000 after buying an additional 610,843 shares during the period. FMR LLC raised its holdings in RB Global by 60.5% in the 3rd quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock valued at $95,057,000 after buying an additional 445,004 shares during the period. CIBC Asset Management Inc grew its position in RB Global by 57.1% in the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock valued at $80,076,000 after acquiring an additional 357,761 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in RB Global by 17.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock valued at $196,109,000 after acquiring an additional 354,803 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Stock Performance

Shares of RB Global stock opened at $101.36 on Friday. RB Global, Inc. has a one year low of $69.83 and a one year high of $106.90. The company has a market cap of $18.73 billion, a PE ratio of 50.43, a P/E/G ratio of 4.95 and a beta of 0.94. 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 business has a 50-day simple moving average of $93.87 and a 200-day simple moving average of $89.96.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the firm posted $0.82 earnings per share. On average, equities research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, February 14th. RB Global’s dividend payout ratio (DPR) is 57.71%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RBA. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. CIBC dropped their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada lifted their target price on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Raymond James lifted their target price on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird lifted their target price on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Two 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, the company has a consensus rating of “Moderate Buy” and an average price target of $107.64.

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.