Voya Financial Advisors Inc. Reduces Position in RB Global, Inc. (NYSE:RBA)

Voya Financial Advisors Inc. decreased its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,266 shares of the business services provider’s stock after selling 777 shares during the period. Voya Financial Advisors Inc.’s holdings in RB Global were worth $664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in RBA. Bank of New York Mellon Corp raised its position in RB Global by 142.9% during the second quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock valued at $102,154,000 after acquiring an additional 787,042 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of RB Global by 1,879.0% in the 2nd quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock valued at $47,761,000 after purchasing an additional 594,941 shares during the period. Principal Financial Group Inc. boosted its holdings in RB Global by 3,387.9% during the second quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock worth $46,712,000 after buying an additional 594,199 shares in the last quarter. FMR LLC increased its holdings in RB Global by 60.5% in the third quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock valued at $95,057,000 after buying an additional 445,004 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of RB Global by 17.1% in 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 acquiring an additional 354,803 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insiders Place Their Bets

In related news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $83.09, for a total value of $1,485,898.47. Following the completion of the transaction, the chief executive officer now owns 86,247 shares in the company, valued at $7,166,263.23. This represents a 17.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 4.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RBA has been the subject of a number of research analyst reports. 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 lifted their target price 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. Bank of America increased their target price on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, Royal Bank of Canada boosted their price target on shares of RB Global from $99.00 to $107.00 and gave the stock 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.36.

RB Global Price Performance

Shares of NYSE RBA opened at $96.78 on Friday. The company has a market capitalization of $17.85 billion, a price-to-earnings ratio of 52.60, a PEG ratio of 4.72 and a beta of 0.95. 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, Inc. has a 1-year low of $60.84 and a 1-year high of $99.79. The business has a 50-day moving average of $88.39 and a 200-day moving average of $82.75.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 annualized dividend and a yield of 1.20%. RB Global’s payout ratio is 63.04%.

About RB Global

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.