Royce & Associates LP Has $46.04 Million Stake in RB Global, Inc. (NYSE:RBA)

Royce & Associates LP decreased its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 572,014 shares of the business services provider’s stock after selling 28,571 shares during the quarter. Royce & Associates LP owned approximately 0.31% of RB Global worth $46,041,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RBA. Orion Portfolio Solutions LLC boosted its stake in RB Global by 4.9% in the 1st quarter. Orion Portfolio Solutions LLC now owns 15,359 shares of the business services provider’s stock valued at $1,170,000 after buying an additional 713 shares in the last quarter. Intech Investment Management LLC acquired a new position in RB Global in the first quarter worth $613,000. Vanguard Group Inc. boosted its stake in RB Global by 5.1% in the first quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock worth $1,827,528,000 after purchasing an additional 1,153,497 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in RB Global by 29.4% in the first quarter. Hillsdale Investment Management Inc. now owns 132,100 shares of the business services provider’s stock worth $10,066,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Covestor Ltd boosted its stake in RB Global by 78.0% in the first quarter. Covestor Ltd now owns 1,422 shares of the business services provider’s stock worth $108,000 after purchasing an additional 623 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Activity at RB Global

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $83.09, for a total value of $1,485,898.47. Following the completion of the sale, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,166,263.23. This 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. Also, CRO James J. Jeter sold 3,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.55, for a total value of $256,650.00. Following the completion of the sale, the executive now owns 20,267 shares of the company’s stock, valued at $1,733,841.85. This trade represents a 12.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,681 shares of company stock worth $3,489,480. 4.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

RB Global Trading Up 1.3 %

RBA stock opened at $92.36 on Friday. The business has a fifty day moving average of $84.30 and a 200-day moving average of $80.21. The company has a market cap of $17.03 billion, a P/E ratio of 50.20, a PEG ratio of 4.47 and a beta of 0.92. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. RB Global, Inc. has a twelve month low of $59.11 and a twelve month high of $94.85.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.26%. RB Global’s dividend payout ratio is presently 63.04%.

RB Global Company 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.