Charles Schwab Investment Management Inc. Has $116.89 Million Position in RB Global, Inc. (NYSE:RBA)

Charles Schwab Investment Management Inc. lessened its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,451,846 shares of the business services provider’s stock after selling 19,385 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in RB Global were worth $116,892,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of RB Global by 25.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider’s stock worth $27,927,000 after buying an additional 74,809 shares in the last quarter. Arlington Partners LLC boosted its stake in shares of RB Global by 22.3% during the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock valued at $3,958,000 after purchasing an additional 8,961 shares in the last quarter. MJP Associates Inc. ADV increased its position in RB Global by 10.7% in the 2nd quarter. MJP Associates Inc. ADV now owns 4,159 shares of the business services provider’s stock valued at $318,000 after acquiring an additional 401 shares during the period. Cetera Investment Advisers grew its stake in shares of RB Global by 1,177.0% in the first quarter. Cetera Investment Advisers now owns 43,572 shares of the business services provider’s stock worth $3,319,000 after purchasing an additional 40,160 shares during the last quarter. Finally, Boston Partners increased its holdings in RB Global by 4.1% in the first quarter. Boston Partners now owns 3,029,758 shares of the business services provider’s stock valued at $230,543,000 after purchasing an additional 120,469 shares during the period. Institutional investors own 95.37% of the company’s stock.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of the firm’s 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 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 17.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is currently owned by insiders.

RB Global Stock Performance

Shares of RB Global stock opened at $98.49 on Tuesday. The business has a 50-day simple moving average of $85.55 and a 200 day simple moving average of $81.29. RB Global, Inc. has a one year low of $60.84 and a one year high of $99.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. The firm has a market capitalization of $18.16 billion, a price-to-earnings ratio of 53.53, a PEG ratio of 4.70 and a beta of 0.92.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global’s dividend payout ratio is currently 63.04%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RBA. Raymond James lifted their price objective on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Robert W. Baird upped their price objective 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 boosted their target price 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. BMO Capital Markets increased 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. Finally, Royal Bank of Canada boosted their price objective on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research note 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 company. Based on data from MarketBeat, RB Global currently has an average rating of “Moderate Buy” and a consensus price target of $98.36.

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.