Massachusetts Financial Services Co. MA Increases Stock Holdings in RB Global, Inc. (NYSE:RBA)

Massachusetts Financial Services Co. MA increased its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.0% in the third quarter, Holdings Channel.com reports. The firm owned 9,960,865 shares of the business services provider’s stock after purchasing an additional 4,314 shares during the period. Massachusetts Financial Services Co. MA owned 0.05% of RB Global worth $801,750,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Weil Company Inc. grew its position in RB Global by 1.2% during the third quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock valued at $912,000 after acquiring an additional 132 shares during the period. Advisor OS LLC boosted its position in shares of RB Global by 1.9% in the second quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock worth $638,000 after buying an additional 156 shares during the period. Blue Trust Inc. boosted its position in shares of RB Global by 11.9% in the third quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock worth $113,000 after buying an additional 157 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in shares of RB Global by 58.7% in 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. Finally, Nisa Investment Advisors LLC boosted its position in shares of RB Global by 33.5% in 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. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Stock Performance

Shares of RB Global stock opened at $95.34 on Friday. The stock has a market cap of $17.58 billion, a PE ratio of 51.82, a price-to-earnings-growth ratio of 4.50 and a beta of 0.92. RB Global, Inc. has a 12 month low of $60.84 and a 12 month high of $95.65. 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 business has a fifty day simple moving average of $85.09 and a 200-day simple moving average of $80.88.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 annualized dividend and a yield of 1.22%. RB Global’s dividend payout ratio (DPR) is currently 63.04%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Raymond James upped their target price on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. BMO Capital Markets upped their target price on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Robert W. Baird boosted their price target on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Bank of America boosted their price target on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Royal Bank of Canada boosted their price target on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, RB Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.36.

Insider Buying and Selling at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,261,134.93. The trade was a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.32% 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.