RB Global, Inc. (NYSE:RBA) Stock Position Cut by Stifel Financial Corp

Stifel Financial Corp lessened its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 9.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,810 shares of the business services provider’s stock after selling 8,270 shares during the period. Stifel Financial Corp’s holdings in RB Global were worth $6,102,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RBA. Bank of New York Mellon Corp grew its position in RB Global by 142.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock valued at $102,154,000 after buying an additional 787,042 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of RB Global by 1,879.0% during the 2nd quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock valued at $47,761,000 after purchasing an additional 594,941 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of RB Global by 3,387.9% during the 2nd quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock valued at $46,712,000 after purchasing an additional 594,199 shares in the last quarter. FMR LLC boosted its position in shares of RB Global by 60.5% during the 3rd quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock valued at $95,057,000 after purchasing an additional 445,004 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of RB Global by 17.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock valued at $196,109,000 after purchasing an additional 354,803 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

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

RB Global Price Performance

NYSE RBA opened at $94.87 on Friday. The company has a 50 day simple moving average of $89.95 and a 200-day simple moving average of $83.45. 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 firm has a market capitalization of $17.49 billion, a price-to-earnings ratio of 51.56, a price-to-earnings-growth ratio of 4.61 and a beta of 0.95. RB Global, Inc. has a 52-week low of $60.84 and a 52-week high of $99.79.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global’s dividend payout ratio (DPR) is 63.04%.

Insider Transactions at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of the firm’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 transaction of $1,505,569.77. Following the transaction, the chief executive officer now owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. This trade represents a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.32% of the stock is owned by 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.