Royce & Associates LP Sells 28,571 Shares of RB Global, Inc. (NYSE:RBA)

Royce & Associates LP reduced its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 572,014 shares of the business services provider’s stock after selling 28,571 shares during the quarter. Royce & Associates LP’s holdings in RB Global were worth $46,041,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its position in shares of RB Global by 58.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after buying an additional 165 shares during the period. UMB Bank n.a. boosted its position in shares of RB Global by 196.0% during the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after buying an additional 388 shares during the period. Quarry LP acquired a new position in shares of RB Global during the second quarter worth about $53,000. Nisa Investment Advisors LLC boosted its position in shares of RB Global by 33.5% during the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after buying an additional 210 shares during the period. Finally, Covestor Ltd boosted its position in shares of RB Global by 533.1% during the third quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock worth $65,000 after buying an additional 677 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on RBA shares. Royal Bank of Canada upped their price objective on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday. BMO Capital Markets increased their price target on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday. Robert W. Baird increased their price target on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday. Raymond James increased their price target on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Bank of America increased their price target on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.36.

RB Global Price Performance

NYSE:RBA opened at $92.36 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average price is $84.30 and its two-hundred day moving average price is $80.21. The firm has a market capitalization of $17.03 billion, a price-to-earnings ratio of 50.20, a P/E/G ratio of 4.47 and a beta of 0.92. RB Global, Inc. has a 12-month low of $59.11 and a 12-month high of $94.85.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a $0.29 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 annualized dividend and a yield of 1.26%. RB Global’s dividend payout ratio is 63.04%.

Insider Buying and Selling at RB Global

In other news, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $82.80, for a total transaction of $241,362.00. Following the transaction, the insider now owns 19,271 shares in the company, valued at approximately $1,595,638.80. This trade represents a 13.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $83.09, for a total value of $1,485,898.47. Following the transaction, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,166,263.23. This trade represents a 17.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,681 shares of company stock worth $3,489,480 over the last 90 days. Company insiders own 4.32% of the company’s stock.

RB Global Company 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.