MML Investors Services LLC Sells 638 Shares of RB Global, Inc. (NYSE:RBA)

MML Investors Services LLC lowered its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,241 shares of the business services provider’s stock after selling 638 shares during the quarter. MML Investors Services LLC’s holdings in RB Global were worth $824,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of RBA. Weil Company Inc. boosted its holdings in RB Global by 1.2% during the 3rd quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock worth $912,000 after acquiring an additional 132 shares during the last quarter. Advisor OS LLC boosted its holdings in RB Global by 1.9% during the second quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock worth $638,000 after purchasing an additional 156 shares during the last quarter. Blue Trust Inc. grew its position in RB Global by 11.9% in the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock worth $113,000 after purchasing an additional 157 shares in the last quarter. Nisa Investment Advisors LLC grew its position in RB Global by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after purchasing an additional 210 shares in the last quarter. Finally, CWM LLC lifted its position in shares of RB Global by 6.3% during the 3rd quarter. CWM LLC now owns 3,956 shares of the business services provider’s stock worth $318,000 after buying an additional 235 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at approximately $7,261,134.93. The trade was a 17.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.32% of the stock is currently owned by corporate insiders.

RB Global Trading Down 0.4 %

Shares of RBA opened at $90.51 on Friday. The firm has a market cap of $16.69 billion, a P/E ratio of 49.19, a price-to-earnings-growth ratio of 4.56 and a beta of 0.95. 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 quick ratio of 1.17 and a current ratio of 1.28. The business has a 50-day moving average of $91.13 and a 200 day moving average of $84.11.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Wednesday, November 27th. RB Global’s dividend payout ratio (DPR) is currently 63.04%.

Analysts Set New Price Targets

Several research firms have recently issued reports on RBA. Royal Bank of Canada upped their target price on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Bank of America upped their price objective on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. CIBC raised their target price on RB Global from $102.00 to $109.00 and gave the company an “outperformer” rating in a research report on Thursday, December 12th. Robert W. Baird boosted their price target on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, BMO Capital Markets raised their price objective on shares of RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.36.

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.