Janney Montgomery Scott LLC Lowers Stock Position in RB Global, Inc. (NYSE:RBA)

Janney Montgomery Scott LLC trimmed its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,629 shares of the business services provider’s stock after selling 1,195 shares during the period. Janney Montgomery Scott LLC’s holdings in RB Global were worth $2,143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RBA. Advisor OS LLC grew its stake in shares of RB Global by 1.9% in the 2nd quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock worth $638,000 after buying an additional 156 shares in the last quarter. Blue Trust Inc. grew its position in shares of RB Global by 11.9% during the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock worth $113,000 after buying an additional 157 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in 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 period. Nisa Investment Advisors LLC lifted its holdings in RB Global by 33.5% during the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after buying an additional 210 shares during the period. Finally, Cigna Investments Inc. New boosted its position in RB Global by 6.6% during the second quarter. Cigna Investments Inc. New now owns 3,440 shares of the business services provider’s stock valued at $262,000 after purchasing an additional 212 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RBA has been the topic of several recent analyst reports. BMO Capital Markets upped their price objective on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Monday. Bank of America boosted their price objective on 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 target on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Robert W. Baird boosted 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. Finally, Royal Bank of Canada lifted their target price on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.36.

Insiders Place Their Bets

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

RB Global Stock Performance

Shares of RB Global stock opened at $92.87 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20. The stock has a market capitalization of $17.13 billion, a price-to-earnings ratio of 50.47, a price-to-earnings-growth ratio of 5.99 and a beta of 0.92. The business has a 50-day moving average of $83.98 and a 200 day moving average of $80.05. RB Global, Inc. has a 12 month low of $58.85 and a 12 month high of $94.85.

RB Global Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.25%. The ex-dividend date is Wednesday, November 27th. RB Global’s payout ratio is currently 63.04%.

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.