Citigroup Inc. Grows Stock Holdings in RB Global, Inc. (NYSE:RBA)

Citigroup Inc. raised its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,792 shares of the business services provider’s stock after buying an additional 3,682 shares during the quarter. Citigroup Inc.’s holdings in RB Global were worth $4,173,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Massmutual Trust Co. FSB ADV grew its stake in shares of RB Global by 58.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after purchasing an additional 165 shares during the period. UMB Bank n.a. raised its holdings in RB Global by 196.0% in the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock valued at $47,000 after buying an additional 388 shares during the period. Quarry LP acquired a new position in RB Global in the 2nd quarter valued at about $53,000. Nisa Investment Advisors LLC grew 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 in the last quarter. Finally, Covestor Ltd boosted its holdings in RB Global by 533.1% in the third quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 677 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Price Performance

Shares of NYSE:RBA opened at $97.47 on Wednesday. RB Global, Inc. has a fifty-two week low of $60.84 and a fifty-two week high of $99.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. The stock has a market capitalization of $17.97 billion, a P/E ratio of 52.97, a P/E/G ratio of 4.67 and a beta of 0.95. The business has a 50-day moving average of $87.40 and a two-hundred day moving average of $82.38.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.19%. RB Global’s payout ratio is presently 63.04%.

Analyst Upgrades and Downgrades

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

Insider Activity at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $84.19, for a total value 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. This trade represents a 17.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.10% 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.