Cumberland Partners Ltd Makes New $282,000 Investment in RB Global, Inc. (NYSE:RBA)

Cumberland Partners Ltd bought a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,500 shares of the business services provider’s stock, valued at approximately $282,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Weil Company Inc. lifted its holdings in shares of RB Global by 1.2% in the 3rd 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 during the last quarter. Wolverine Asset Management LLC increased its holdings in shares of RB Global by 379.1% in the 3rd quarter. Wolverine Asset Management LLC now owns 1,011 shares of the business services provider’s stock valued at $81,000 after acquiring an additional 800 shares during the period. Crossmark Global Holdings Inc. raised its position in RB Global by 16.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 13,496 shares of the business services provider’s stock valued at $1,087,000 after purchasing an additional 1,927 shares during the last quarter. Kampmann Melissa S. boosted its stake in RB Global by 1.4% during the 3rd quarter. Kampmann Melissa S. now owns 33,080 shares of the business services provider’s stock worth $2,663,000 after purchasing an additional 465 shares during the period. Finally, Covestor Ltd grew its position in RB Global by 533.1% during the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock worth $65,000 after purchasing an additional 677 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Activity at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the completion of the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,166,263.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the sale, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at $7,166,263.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO James J. Jeter sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total transaction of $256,650.00. Following the completion of the sale, the executive now directly owns 20,267 shares of the company’s stock, valued at $1,733,841.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,681 shares of company stock valued at $3,489,480. Corporate insiders own 4.10% of the company’s stock.

RB Global Price Performance

RBA opened at $92.87 on Wednesday. The company’s 50-day moving average price is $83.98 and its 200 day moving average price is $80.05. RB Global, Inc. has a fifty-two week low of $58.85 and a fifty-two week high of $94.85. The firm has a market cap of $17.13 billion, a price-to-earnings ratio of 50.47, a price-to-earnings-growth ratio of 6.11 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 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 paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global’s dividend payout ratio is presently 63.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RBA shares. Bank of America raised their price target on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th. Raymond James upped their price target on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. 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 research note on Monday. Royal Bank of Canada raised their price objective on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Robert W. Baird lifted their price target on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.36.

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.