MQS Management LLC Takes Position in RB Global, Inc. (NYSE:RBA)

MQS Management LLC acquired a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,993 shares of the business services provider’s stock, valued at approximately $482,000.

A number of other institutional investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its position in shares of RB Global by 58.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 165 shares during the last quarter. UMB Bank n.a. grew its position 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 valued at $47,000 after buying an additional 388 shares during the period. Quarry LP purchased a new stake in RB Global during the second quarter valued at approximately $53,000. Nisa Investment Advisors LLC boosted 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 worth $64,000 after acquiring an additional 210 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of RB Global by 533.1% during the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 677 shares during the period. Institutional investors own 95.37% of the company’s stock.

RB Global Stock Performance

Shares of NYSE RBA opened at $91.15 on Thursday. The company has a market cap of $16.81 billion, a P/E ratio of 49.54, a P/E/G ratio of 4.55 and a beta of 0.92. RB Global, Inc. has a 52-week low of $59.11 and a 52-week high of $94.85. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. The firm’s fifty day moving average is $84.13 and its two-hundred day moving average is $80.13.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global’s payout ratio is presently 63.04%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in 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 research report on Monday. Robert W. Baird increased their target price on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday. Bank of America lifted their price target on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. Raymond James increased their price objective on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, 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 report on Monday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $98.36.

Insider Buying and Selling at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the transaction, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value 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 approximately $7,261,134.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO James J. Jeter sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.55, for a total value of $256,650.00. Following the sale, the executive now directly owns 20,267 shares in the company, valued at $1,733,841.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,681 shares of company stock worth $3,489,480 in the last quarter. 4.32% of the stock is owned by corporate insiders.

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.