188,583 Shares in RB Global, Inc. (NYSE:RBA) Acquired by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. acquired a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 188,583 shares of the business services provider’s stock, valued at approximately $15,179,000. Northwest & Ethical Investments L.P. owned approximately 0.10% of RB Global at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RBA. Massmutual Trust Co. FSB ADV grew its position in RB Global by 58.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 165 shares during the last quarter. UMB Bank n.a. grew its holdings 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 acquiring an additional 388 shares during the period. Quarry LP acquired a new stake in RB Global in the second quarter valued at approximately $53,000. Nisa Investment Advisors LLC increased its position in shares of RB Global by 33.5% during the second 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 increased its position in shares of RB Global by 533.1% during the third quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock worth $65,000 after purchasing an additional 677 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. 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, November 11th. Raymond James upped their target price on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. BMO Capital Markets upped their target price on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Bank of America increased their price objective on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, Robert W. Baird raised their price target on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $98.36.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction that occurred on 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 sale, the chief executive officer now directly 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 Securities & Exchange Commission, which is available at this hyperlink. 4.10% of the stock is owned by insiders.

RB Global Price Performance

Shares of RBA traded up $0.18 during trading hours on Thursday, hitting $97.68. The stock had a trading volume of 612,088 shares, compared to its average volume of 1,012,306. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. RB Global, Inc. has a 52 week low of $60.84 and a 52 week high of $99.79. The stock has a market capitalization of $18.01 billion, a price-to-earnings ratio of 53.09, a P/E/G ratio of 4.73 and a beta of 0.92. The company’s fifty day moving average is $86.36 and its two-hundred day moving average is $81.74.

RB Global Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.19%. RB Global’s payout ratio is 63.04%.

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.