HighTower Advisors LLC Has $1.29 Million Stake in RB Global, Inc. (NYSE:RBA)

HighTower Advisors LLC decreased its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 70.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,951 shares of the business services provider’s stock after selling 37,353 shares during the quarter. HighTower Advisors LLC’s holdings in RB Global were worth $1,290,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of RBA. Arlington Partners LLC increased its holdings in RB Global by 22.3% in the 3rd quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock valued at $3,958,000 after buying an additional 8,961 shares during the period. CIBC Asset Management Inc increased its holdings in RB Global by 57.1% in the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock valued at $80,076,000 after buying an additional 357,761 shares during the period. Canada Pension Plan Investment Board increased its holdings in RB Global by 132.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 28,300 shares of the business services provider’s stock valued at $2,158,000 after buying an additional 16,100 shares during the period. Forsta AP Fonden increased its holdings in RB Global by 16.1% in the 3rd quarter. Forsta AP Fonden now owns 43,300 shares of the business services provider’s stock valued at $3,489,000 after buying an additional 6,000 shares during the period. Finally, New York State Teachers Retirement System bought a new position in RB Global in the 2nd quarter valued at about $7,101,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, CEO James Francis Kessler sold 17,883 shares of the business’s 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 transaction, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.32% of the stock is owned by corporate insiders.

RB Global Stock Up 0.2 %

NYSE:RBA opened at $95.02 on Tuesday. The firm’s 50 day simple moving average is $90.25 and its 200 day simple moving average is $83.73. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. RB Global, Inc. has a one year low of $60.84 and a one year high of $99.79. The company has a market cap of $17.52 billion, a PE ratio of 51.64, a P/E/G ratio of 4.56 and a beta of 0.95.

RB Global Announces Dividend

The firm also recently announced 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 yield of 1.22%. RB Global’s dividend payout ratio is presently 63.04%.

RB Global 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.