Accredited Investors Inc. Purchases New Position in RB Global, Inc. (NYSE:RBA)

Accredited Investors Inc. acquired a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the third quarter, HoldingsChannel.com reports. The firm acquired 2,812 shares of the business services provider’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RBA. Orion Portfolio Solutions LLC lifted its holdings in RB Global by 4.9% during 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 purchasing an additional 713 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of RB Global in the first quarter worth about $613,000. Vanguard Group Inc. lifted its position in shares of RB Global by 5.1% during 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. Covestor Ltd grew its stake in shares of RB Global by 78.0% during the first quarter. Covestor Ltd now owns 1,422 shares of the business services provider’s stock valued at $108,000 after purchasing an additional 623 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its position in RB Global by 84.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,600 shares of the business services provider’s stock worth $198,000 after purchasing an additional 1,188 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on RBA shares. Raymond James increased their price objective on 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 stock an “outperform” rating in a research report on Monday, November 11th. Royal Bank of Canada upped their target price on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Bank of America lifted 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. Finally, BMO Capital Markets increased 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and an average price target of $98.36.

RB Global Stock Up 0.4 %

RB Global stock opened at $92.76 on Monday. RB Global, Inc. has a fifty-two week low of $59.38 and a fifty-two week high of $94.85. 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 $17.11 billion, a price-to-earnings ratio of 50.41, a PEG ratio of 4.55 and a beta of 0.92. The company’s 50 day simple moving average is $84.50 and its 200 day simple moving average is $80.47.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Wednesday, November 27th. RB Global’s dividend payout ratio (DPR) is 63.04%.

Insider Activity at RB Global

In other news, 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 value of $256,650.00. Following the completion of the transaction, the executive now owns 20,267 shares in the company, valued at $1,733,841.85. This represents a 12.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,166,263.23. The trade was a 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,766 shares of company stock worth $3,248,118 in the last quarter. Corporate insiders own 4.32% of the company’s stock.

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.