Wilmington Savings Fund Society FSB Acquires New Position in RB Global, Inc. (NYSE:RBA)

Wilmington Savings Fund Society FSB acquired a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 3rd quarter, HoldingsChannel reports. The firm acquired 5,777 shares of the business services provider’s stock, valued at approximately $465,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Arlington Partners LLC raised its holdings in shares of RB Global by 22.3% during the 3rd quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock worth $3,958,000 after buying an additional 8,961 shares in the last quarter. CIBC Asset Management Inc raised its stake in RB Global by 57.1% during the third quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after acquiring an additional 357,761 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of RB Global by 53.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock worth $4,805,000 after acquiring an additional 20,795 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of RB Global by 132.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 28,300 shares of the business services provider’s stock valued at $2,158,000 after purchasing an additional 16,100 shares in the last quarter. Finally, Forsta AP Fonden grew its holdings in shares of RB Global by 16.1% during the 3rd quarter. Forsta AP Fonden now owns 43,300 shares of the business services provider’s stock valued at $3,489,000 after purchasing an additional 6,000 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction 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 owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. This represents a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.32% of the company’s stock.

RB Global Trading Up 0.2 %

NYSE RBA opened at $95.02 on Tuesday. The firm has a market capitalization of $17.52 billion, a PE ratio of 51.64, a price-to-earnings-growth ratio of 4.56 and a beta of 0.95. The business’s 50-day moving average price is $90.25 and its two-hundred day moving average price is $83.73. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. RB Global, Inc. has a 12 month low of $60.84 and a 12 month high of $99.79.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 1.22%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global’s dividend payout ratio is presently 63.04%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RBA. Bank of America increased their price objective on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. Royal Bank of Canada raised their price objective on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Robert W. Baird upped their target price on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. CIBC lifted their price target on RB Global from $102.00 to $109.00 and gave the company an “outperformer” rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets boosted their price target on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.36.

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.