Charles Schwab Investment Management Inc. Cuts Stock Position in RB Global, Inc. (NYSE:RBA)

Charles Schwab Investment Management Inc. lessened its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,451,846 shares of the business services provider's stock after selling 19,385 shares during the period. Charles Schwab Investment Management Inc. owned about 0.79% of RB Global worth $116,892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banco Santander S.A. bought a new stake in shares of RB Global in the 3rd quarter worth $618,000. Intech Investment Management LLC increased its holdings in RB Global by 16.8% in the 3rd quarter. Intech Investment Management LLC now owns 21,413 shares of the business services provider's stock worth $1,725,000 after buying an additional 3,081 shares in the last quarter. PCJ Investment Counsel Ltd. raised its position in RB Global by 32.0% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 207,660 shares of the business services provider's stock worth $16,714,000 after buying an additional 50,320 shares during the last quarter. Commerce Bank raised its position in RB Global by 10.6% in the 3rd quarter. Commerce Bank now owns 14,906 shares of the business services provider's stock worth $1,200,000 after buying an additional 1,426 shares during the last quarter. Finally, Mawer Investment Management Ltd. lifted its stake in RB Global by 3.6% during the 3rd quarter. Mawer Investment Management Ltd. now owns 104,167 shares of the business services provider's stock valued at $8,384,000 after acquiring an additional 3,586 shares during the period. Institutional investors own 95.37% of the company's stock.

RB Global Price Performance

Shares of RBA stock traded down $0.67 on Tuesday, hitting $97.83. 786,015 shares of the stock traded hands, compared to its average volume of 1,014,054. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. RB Global, Inc. has a 52 week low of $60.84 and a 52 week high of $99.79. The firm has a 50 day simple moving average of $85.82 and a two-hundred day simple moving average of $81.47. The firm has a market cap of $18.04 billion, a price-to-earnings ratio of 53.42, a PEG ratio of 4.70 and a beta of 0.92.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders 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 dividend yield of 1.19%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global's dividend payout ratio (DPR) is 63.04%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of RB Global from $99.00 to $107.00 and gave the company an "outperform" rating in a report on Monday, November 11th. BMO Capital Markets raised their price target on RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. Robert W. Baird upped their price objective on RB Global from $86.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Raymond James raised 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. Finally, Bank of America upped their price target on shares of RB Global from $79.00 to $92.50 and gave the company a "neutral" rating in a research report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $98.36.

Insider Buying and Selling

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the business's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the sale, the chief executive officer now owns 86,247 shares in the company, valued at $7,261,134.93. The trade was a 17.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is currently owned by company insiders.

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.