Dynamic Technology Lab Private Ltd Acquires New Stake in RB Global, Inc. (NYSE:RBA)

Dynamic Technology Lab Private Ltd bought a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,920 shares of the business services provider’s stock, valued at approximately $1,362,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Weil Company Inc. lifted its position in shares of RB Global by 1.2% during the third quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock worth $912,000 after purchasing an additional 132 shares in the last quarter. Advisor OS LLC lifted its holdings in RB Global by 1.9% during the 2nd quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock worth $638,000 after buying an additional 156 shares in the last quarter. Blue Trust Inc. lifted its holdings in RB Global by 11.9% during the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock worth $113,000 after buying an additional 157 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted 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 buying an additional 165 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of RB Global by 33.5% in the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after acquiring an additional 210 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Stock Down 0.7 %

RBA stock opened at $97.83 on Wednesday. The company’s 50 day moving average is $85.82 and its two-hundred day moving average is $81.47. RB Global, Inc. has a twelve month low of $60.84 and a twelve month high of $99.79. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The stock has a market cap of $18.04 billion, a P/E ratio of 53.17, a PEG ratio of 4.70 and a beta of 0.92.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a $0.29 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.19%. RB Global’s dividend payout ratio (DPR) is presently 63.04%.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the sale, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. The trade was a 17.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

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