Connor Clark & Lunn Investment Management Ltd. Has $79.97 Million Position in RB Global, Inc. (NYSE:RBA)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 26.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 993,686 shares of the business services provider's stock after selling 359,468 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.54% of RB Global worth $79,966,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RBA. Massmutual Trust Co. FSB ADV raised its stake 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 buying an additional 165 shares during the period. UMB Bank n.a. raised its holdings in RB Global by 196.0% in the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider's stock worth $47,000 after buying an additional 388 shares during the last quarter. Quarry LP bought a new stake in RB Global during the second quarter valued at approximately $53,000. Nisa Investment Advisors LLC raised its stake 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 valued at $64,000 after purchasing an additional 210 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of RB Global by 533.1% in the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider's stock valued at $65,000 after purchasing an additional 677 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

RB Global Trading Up 0.1 %

Shares of RBA stock traded up $0.14 during trading hours on Wednesday, hitting $93.74. 483,725 shares of the company were exchanged, compared to its average volume of 1,015,629. RB Global, Inc. has a 1 year low of $60.84 and a 1 year high of $94.85. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. The firm has a market cap of $17.29 billion, a PE ratio of 50.87, a PEG ratio of 4.55 and a beta of 0.92. The firm has a fifty day moving average of $84.91 and a 200 day moving average of $80.78.

RB Global Dividend Announcement

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

Insider Activity

In other news, 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 value of $256,650.00. Following the transaction, the executive now owns 20,267 shares in the company, valued at approximately $1,733,841.85. The trade was a 12.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 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 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,766 shares of company stock valued at $3,248,118 over the last 90 days. 4.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RBA has been the topic of a number of recent research reports. BMO Capital Markets boosted their price target 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 target price on RB Global from $99.00 to $107.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Robert W. Baird upped their price objective on RB Global from $86.00 to $100.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. Raymond James upped their target price on RB Global from $95.00 to $98.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. Finally, Bank of America increased their target price 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 equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $98.36.

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.