NFJ Investment Group LLC Has $30.34 Million Stock Holdings in RB Global, Inc. (NYSE:RBA)

NFJ Investment Group LLC reduced its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 376,894 shares of the business services provider’s stock after selling 35,163 shares during the period. NFJ Investment Group LLC owned 0.20% of RB Global worth $30,336,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Janus Henderson Group PLC boosted its holdings in shares of RB Global by 0.7% during the third quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider’s stock worth $272,293,000 after acquiring an additional 24,101 shares during the period. Cooke & Bieler LP grew its holdings in RB Global by 3.4% in the 2nd quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider’s stock valued at $252,865,000 after buying an additional 109,056 shares in the last quarter. Fiera Capital Corp increased its position in RB Global by 5.7% during the 2nd quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock worth $239,881,000 after buying an additional 168,945 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of RB Global by 17.1% during the third quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock worth $196,109,000 after buying an additional 354,803 shares in the last quarter. Finally, Canoe Financial LP boosted its holdings in RB Global by 22.0% in the 3rd quarter. Canoe Financial LP now owns 1,418,666 shares of the business services provider’s stock valued at $113,900,000 after purchasing an additional 255,484 shares during the period. 95.37% of the stock is owned by institutional investors.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at approximately $7,261,134.93. The trade was a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. BMO Capital Markets raised their target price 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. Royal Bank of Canada boosted their target price on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Robert W. Baird raised their price target on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Bank of America raised 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, Raymond James boosted their price target on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.36.

RB Global Stock Down 0.1 %

Shares of RB Global stock traded down $0.12 during trading on Tuesday, reaching $97.02. 48,854 shares of the company traded hands, compared to its average volume of 1,006,751. The firm has a market capitalization of $17.89 billion, a PE ratio of 52.83, a P/E/G ratio of 4.70 and a beta of 0.95. RB Global, Inc. has a 1-year low of $60.84 and a 1-year high of $99.79. The company has a 50 day moving average price of $87.13 and a 200-day moving average price of $82.23. 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 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 issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 annualized dividend and a yield of 1.20%. RB Global’s dividend payout ratio (DPR) is currently 63.04%.

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.