Qsemble Capital Management LP Buys New Position in RB Global, Inc. (NYSE:RBA)

Qsemble Capital Management LP acquired a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,967 shares of the business services provider’s stock, valued at approximately $561,000.

Several other hedge funds and other institutional investors have also bought and sold shares of RBA. Massmutual Trust Co. FSB ADV boosted its position in 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 worth $34,000 after purchasing an additional 165 shares during the last quarter. UMB Bank n.a. raised its stake in shares of RB Global by 196.0% during the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 388 shares during the period. Quarry LP bought a new stake in shares of RB Global during the 2nd quarter valued at $53,000. Nisa Investment Advisors LLC raised its stake in shares of RB Global by 33.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 210 shares during the period. Finally, Covestor Ltd increased its stake in RB Global by 533.1% in the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock worth $65,000 after acquiring an additional 677 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Stock Up 0.2 %

RBA stock opened at $97.68 on Thursday. RB Global, Inc. has a twelve month low of $60.84 and a twelve month high of $99.79. 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 firm has a market cap of $18.01 billion, a PE ratio of 53.09, a price-to-earnings-growth ratio of 4.73 and a beta of 0.92. The business has a 50 day moving average of $86.09 and a 200 day moving average of $81.62.

RB Global Dividend Announcement

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 given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Wednesday, November 27th. RB Global’s dividend payout ratio (DPR) is presently 63.04%.

Insider Activity at RB Global

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 completion of the transaction, the chief executive officer now owns 86,247 shares of the company’s stock, 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 corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RBA. Raymond James upped their target price on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Bank of America increased their target price on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. BMO Capital Markets increased their target price on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Robert W. Baird upped their price target on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada upped their price target on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.36.

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.