Covestor Ltd Grows Stake in RB Global, Inc. (NYSE:RBA)

Covestor Ltd raised its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 533.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 804 shares of the business services provider’s stock after buying an additional 677 shares during the period. Covestor Ltd’s holdings in RB Global were worth $65,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Hollencrest Capital Management boosted its position in shares of RB Global by 99.8% during the third quarter. Hollencrest Capital Management now owns 875 shares of the business services provider’s stock valued at $70,000 after buying an additional 437 shares during the period. QRG Capital Management Inc. purchased a new position in shares of RB Global during the third quarter valued at approximately $204,000. Ground Swell Capital LLC purchased a new position in shares of RB Global during the third quarter valued at approximately $213,000. Chicago Partners Investment Group LLC purchased a new position in shares of RB Global during the third quarter valued at approximately $237,000. Finally, First Trust Direct Indexing L.P. purchased a new position in shares of RB Global during the third quarter valued at approximately $340,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. BMO Capital Markets boosted their target price on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday. Royal Bank of Canada boosted their price target on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a report on Monday. Bank of America boosted their price target on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. Robert W. Baird boosted their price target on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday. Finally, Raymond James boosted their price target on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, RB Global has an average rating of “Moderate Buy” and a consensus target price of $98.36.

RB Global Stock Performance

Shares of NYSE:RBA opened at $92.36 on Friday. The company has a market capitalization of $17.03 billion, a price-to-earnings ratio of 50.20, a price-to-earnings-growth 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 quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $84.30 and a 200 day moving average of $80.21.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Wednesday, November 27th. RB Global’s dividend payout ratio (DPR) is 63.04%.

Insider Buying and Selling

In other news, CRO James J. Jeter sold 3,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.55, for a total transaction of $256,650.00. Following the transaction, the executive now directly owns 20,267 shares of the company’s stock, valued at approximately $1,733,841.85. This represents a 12.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $83.09, for a total value of $1,485,898.47. Following the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at approximately $7,166,263.23. The trade was a 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,681 shares of company stock valued at $3,489,480 over the last 90 days. Corporate insiders own 4.32% of the company’s stock.

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.