Orion Portfolio Solutions LLC Has $489,000 Position in RB Global, Inc. (NYSE:RBA)

Orion Portfolio Solutions LLC lowered its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 58.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 6,072 shares of the business services provider’s stock after selling 8,705 shares during the period. Orion Portfolio Solutions LLC’s holdings in RB Global were worth $489,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank n.a. raised its holdings in shares of RB Global by 196.0% during the 3rd 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 in the last quarter. Quarry LP bought a new position in shares of RB Global during the 2nd quarter valued at $53,000. Nisa Investment Advisors LLC raised its holdings in shares of RB Global by 33.5% during the 2nd 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 in the last quarter. Covestor Ltd raised its holdings in shares of RB Global by 533.1% during the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 677 shares in the last quarter. Finally, Hollencrest Capital Management raised its holdings in shares of RB Global by 99.8% during the 3rd 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 in the last quarter. Institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RBA shares. CIBC raised 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. Bank of America lifted their target price 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. Royal Bank of Canada lifted their target price on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. BMO Capital Markets lifted their target price 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. Finally, Robert W. Baird lifted their target price 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $100.36.

Insider Activity

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

RB Global Stock Down 1.5 %

Shares of RBA opened at $93.62 on Wednesday. The company has a 50-day simple moving average of $90.25 and a 200-day simple moving average of $83.73. The firm has a market capitalization of $17.26 billion, a P/E ratio of 50.88, a P/E/G ratio of 4.56 and a beta of 0.95. 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 52 week low of $60.84 and a 52 week high of $99.79.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global’s dividend payout ratio is currently 63.04%.

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.