Metis Global Partners LLC Sells 309 Shares of RB Global, Inc. (NYSE:RBA)

Metis Global Partners LLC cut its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,701 shares of the business services provider’s stock after selling 309 shares during the quarter. Metis Global Partners LLC’s holdings in RB Global were worth $539,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new position in shares of RB Global in the first quarter worth approximately $613,000. Price T Rowe Associates Inc. MD boosted its holdings in RB Global by 25.6% in the 1st 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 during the period. Arlington Partners LLC boosted its holdings in RB Global by 22.3% in the 3rd quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock worth $3,958,000 after buying an additional 8,961 shares during the period. MJP Associates Inc. ADV increased its stake 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 worth $318,000 after buying an additional 401 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in RB Global by 1,177.0% during the first quarter. Cetera Investment Advisers now owns 43,572 shares of the business services provider’s stock valued at $3,319,000 after acquiring an additional 40,160 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CRO James J. Jeter sold 3,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,733,841.85. This represents a 12.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 86,247 shares of the company’s stock, valued at $7,166,263.23. This trade represents a 17.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,766 shares of company stock valued at $3,248,118 in the last ninety days. Insiders own 4.32% of the company’s stock.

RB Global Stock Up 1.5 %

Shares of NYSE RBA opened at $94.11 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. RB Global, Inc. has a 12-month low of $60.84 and a 12-month high of $94.85. The firm’s 50-day moving average price is $84.50 and its 200-day moving average price is $80.47. The stock has a market capitalization of $17.35 billion, a price-to-earnings ratio of 51.16, a P/E/G ratio of 4.55 and a beta of 0.92.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 1.23%. RB Global’s dividend payout ratio (DPR) is presently 63.04%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RBA shares. Raymond James increased their target price on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Bank of America increased their price objective 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. 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 report on Monday, November 11th. BMO Capital Markets raised their target price on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. 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 note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.36.

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.