Banco Santander S.A. Acquires New Shares in RB Global, Inc. (NYSE:RBA)

Banco Santander S.A. purchased a new position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,678 shares of the business services provider's stock, valued at approximately $618,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. EdgePoint Investment Group Inc. raised its stake in RB Global by 1.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider's stock worth $652,590,000 after acquiring an additional 114,225 shares in the last quarter. Cooke & Bieler LP lifted its holdings in shares of RB Global by 3.4% in the 2nd quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider's stock valued at $252,865,000 after purchasing an additional 109,056 shares during the last quarter. Fiera Capital Corp boosted its position in shares of RB Global by 5.7% in the 2nd quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider's stock valued at $239,881,000 after purchasing an additional 168,945 shares during the period. Boston Partners grew its stake in RB Global by 4.1% during the 1st quarter. Boston Partners now owns 3,029,758 shares of the business services provider's stock worth $230,543,000 after buying an additional 120,469 shares during the last quarter. Finally, Canoe Financial LP increased its position in RB Global by 22.0% during the third quarter. Canoe Financial LP now owns 1,418,666 shares of the business services provider's stock worth $113,900,000 after buying an additional 255,484 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Raymond James lifted their target price on shares of RB Global from $95.00 to $98.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. Robert W. Baird lifted 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. BMO Capital Markets increased their target price on shares of RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. 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 research report on Monday, November 11th. Finally, Bank of America upped their price objective on RB Global from $79.00 to $92.50 and gave the company a "neutral" rating in a research note on Monday, August 26th. Two 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $98.36.

Insider Buying and Selling at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,166,263.23. The trade was a 17.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.32% of the stock is currently owned by corporate insiders.

RB Global Stock Performance

RBA traded up $2.47 during trading on Friday, reaching $97.81. The company's stock had a trading volume of 1,136,292 shares, compared to its average volume of 803,779. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. The company's fifty day moving average price is $85.55 and its 200-day moving average price is $81.16. RB Global, Inc. has a 52-week low of $60.84 and a 52-week high of $97.83. The company has a market capitalization of $18.04 billion, a price-to-earnings ratio of 53.16, a price-to-earnings-growth ratio of 4.58 and a beta of 0.92.

RB Global Dividend Announcement

The business also recently announced 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 of this dividend is Wednesday, November 27th. This represents a $1.16 annualized dividend and a yield of 1.19%. RB Global's payout ratio is currently 63.04%.

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.