Covestor Ltd Increases Position in RB Global, Inc. (NYSE:RBA)

Covestor Ltd increased its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 533.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 804 shares of the business services provider’s stock after buying an additional 677 shares during the quarter. Covestor Ltd’s holdings in RB Global were worth $65,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV boosted its holdings in 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 valued at $34,000 after purchasing an additional 165 shares during the last quarter. UMB Bank n.a. boosted its holdings in RB Global by 196.0% in the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 388 shares during the last quarter. Quarry LP purchased a new stake in RB Global in the second quarter valued at $53,000. Nisa Investment Advisors LLC boosted its holdings in RB Global by 33.5% in the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 210 shares during the last quarter. Finally, Hollencrest Capital Management boosted its holdings in RB Global by 99.8% in the third quarter. Hollencrest Capital Management now owns 875 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 437 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

RB Global Stock Up 1.3 %

RBA opened at $92.36 on Friday. RB Global, Inc. has a twelve month low of $59.11 and a twelve month high of $94.85. 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 company has a 50-day moving average price of $84.30 and a 200 day moving average price of $80.21. The company has a market cap of $17.03 billion, a PE ratio of 50.20, a price-to-earnings-growth ratio of 4.55 and a beta of 0.92.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given 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 dividend yield of 1.26%. RB Global’s dividend payout ratio (DPR) is presently 63.04%.

Insider Buying and Selling

In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the sale, the insider now owns 19,271 shares in the company, valued at approximately $1,595,638.80. This represents a 13.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the completion of the sale, the chief executive officer now owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. The trade was a 17.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,681 shares of company stock worth $3,489,480 in the last 90 days. 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.