Wealth Enhancement Advisory Services LLC Grows Holdings in RB Global, Inc. (NYSE:RBA)

Wealth Enhancement Advisory Services LLC raised its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,131 shares of the business services provider’s stock after buying an additional 273 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in RB Global were worth $333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV boosted its stake in shares of 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 purchasing an additional 165 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of RB Global by 196.0% in the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after buying an additional 388 shares during the period. Quarry LP bought a new stake in shares of RB Global in the 2nd quarter valued at about $53,000. Nisa Investment Advisors LLC grew its position in 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, Northwestern Mutual Wealth Management Co. grew its position in RB Global by 30.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,020 shares of the business services provider’s stock worth $78,000 after acquiring an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RBA shares. Robert W. Baird lifted their price target on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Royal Bank of Canada lifted their target price on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Bank of America increased their price target 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. BMO Capital Markets started coverage on shares of RB Global in a research note on Thursday, September 5th. They set an “outperform” rating and a $105.00 price objective for the company. Finally, Raymond James increased their target price on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Two research 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 $94.93.

RB Global Stock Performance

Shares of RB Global stock opened at $91.86 on Monday. RB Global, Inc. has a 12 month low of $58.85 and a 12 month high of $93.18. The firm has a market capitalization of $16.94 billion, a P/E ratio of 49.92, a P/E/G ratio of 5.99 and a beta of 0.92. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $83.66 and a two-hundred day simple moving average of $79.77.

RB Global Dividend Announcement

The firm 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 dividend of $0.29 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.26%. RB Global’s dividend payout ratio (DPR) is currently 63.04%.

Insider Activity at RB Global

In other RB Global news, CRO James J. Jeter sold 2,920 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total value of $230,563.20. Following the sale, the executive now owns 23,267 shares in the company, valued at approximately $1,837,162.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO James Francis Kessler sold 17,883 shares of RB Global 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 in the company, valued at approximately $7,261,134.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 2,920 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the transaction, the executive now owns 23,267 shares in the company, valued at $1,837,162.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,601 shares of company stock valued at $3,720,043 in the last three months. Company insiders own 4.32% of the company’s stock.

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.