Massachusetts Financial Services Co. MA Purchases 4,314 Shares of RB Global, Inc. (NYSE:RBA)

Massachusetts Financial Services Co. MA increased its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,960,865 shares of the business services provider’s stock after buying an additional 4,314 shares during the period. Massachusetts Financial Services Co. MA owned about 5.40% of RB Global worth $801,750,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Massmutual Trust Co. FSB ADV lifted its stake in shares of RB Global by 58.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after buying an additional 165 shares in the last quarter. UMB Bank n.a. boosted its position in RB Global by 196.0% during the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after purchasing an additional 388 shares during the period. Quarry LP bought a new stake in RB Global during the 2nd quarter valued at $53,000. Nisa Investment Advisors LLC lifted its holdings in RB Global by 33.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after purchasing an additional 210 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of RB Global by 533.1% in the third quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 677 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Up 1.7 %

Shares of NYSE:RBA opened at $95.34 on Friday. The business has a fifty day moving average of $85.09 and a two-hundred day moving average of $80.88. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. The stock has a market cap of $17.58 billion, a P/E ratio of 51.82, a PEG ratio of 4.50 and a beta of 0.92. RB Global, Inc. has a 52-week low of $60.84 and a 52-week high of $95.65.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global’s payout ratio is 63.04%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RBA. Royal Bank of Canada lifted their price objective 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. Raymond James boosted their price objective on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. 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 note on Monday, November 11th. BMO Capital Markets boosted their price objective 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. Finally, Bank of America upped their price target on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.36.

Insider Buying and Selling

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 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. This trade represents a 17.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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.