M&T Bank Corp Decreases Position in RB Global, Inc. (NYSE:RBA)

M&T Bank Corp lessened its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 14.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 38,928 shares of the business services provider’s stock after selling 6,770 shares during the period. M&T Bank Corp’s holdings in RB Global were worth $3,134,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RBA. Weil Company Inc. lifted its holdings in shares of RB Global by 1.2% in the third quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock valued at $912,000 after purchasing an additional 132 shares in the last quarter. Advisor OS LLC increased its position 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 buying an additional 156 shares in the last quarter. Blue Trust Inc. lifted 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 valued at $113,000 after acquiring an additional 157 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake 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 valued at $64,000 after acquiring an additional 210 shares during the last quarter. Finally, CWM LLC increased its position in 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 purchasing an additional 235 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

RB Global Stock Down 0.8 %

RBA opened at $94.87 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. RB Global, Inc. has a 1 year low of $60.84 and a 1 year high of $99.79. The firm has a 50 day moving average price of $89.95 and a 200 day moving average price of $83.45. The company has a market cap of $17.49 billion, a PE ratio of 51.56, a price-to-earnings-growth ratio of 4.61 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 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 dividend yield of 1.22%. RB Global’s payout ratio is 63.04%.

Insider Buying and Selling

In other RB Global 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 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 document filed with the SEC, which is available through this hyperlink. 4.32% of the stock is owned by corporate insiders.

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.