Assetmark Inc. Sells 9,390 Shares of RB Global, Inc. (NYSE:RBA)

Assetmark Inc. cut its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 96.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 344 shares of the business services provider's stock after selling 9,390 shares during the quarter. Assetmark Inc.'s holdings in RB Global were worth $28,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RBA. Massmutual Trust Co. FSB ADV grew its holdings 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 worth $34,000 after acquiring an additional 165 shares in the last quarter. UMB Bank n.a. grew its position in RB Global by 196.0% in the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider's stock valued at $47,000 after buying an additional 388 shares in the last quarter. Quarry LP bought a new stake in shares of RB Global during the 2nd quarter worth about $53,000. Nisa Investment Advisors LLC boosted its holdings in shares of RB Global by 33.5% in the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider's stock valued at $64,000 after acquiring an additional 210 shares in the last quarter. Finally, Hollencrest Capital Management increased its stake 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 acquiring an additional 437 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on RBA. Royal Bank of Canada increased their price target on RB Global from $99.00 to $107.00 and gave the company an "outperform" rating in a research note on Monday, November 11th. Robert W. Baird lifted their price target on RB Global from $86.00 to $100.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Raymond James lifted 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. BMO Capital Markets boosted their target price on RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Finally, Bank of America lifted their price objective on shares of RB Global from $79.00 to $92.50 and gave the stock a "neutral" rating in a research note on Monday, August 26th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, RB Global has an average rating of "Moderate Buy" and a consensus price target of $98.36.

RB Global Price Performance

Shares of RB Global stock traded up $0.14 on Wednesday, reaching $93.74. 483,725 shares of the stock were exchanged, compared to its average volume of 1,015,635. The firm's 50 day moving average is $84.91 and its 200-day moving average is $80.78. The firm has a market cap of $17.29 billion, a PE ratio of 50.87, a P/E/G ratio of 4.55 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. RB Global, Inc. has a one year low of $60.84 and a one year high of $94.85.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.29 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.24%. RB Global's dividend payout ratio (DPR) is presently 63.04%.

Insider Transactions at RB Global

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the company's stock in a transaction that occurred on 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 owns 86,247 shares of the company's stock, valued at $7,261,134.93. This represents a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO James J. Jeter sold 3,000 shares of RB Global stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.55, for a total transaction of $256,650.00. Following the completion of the transaction, the executive now directly owns 20,267 shares of the company's stock, valued at $1,733,841.85. This trade represents a 12.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,766 shares of company stock worth $3,248,118. Insiders own 4.10% of the company's stock.

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.