Dynamic Technology Lab Private Ltd Makes New $1.36 Million Investment in RB Global, Inc. (NYSE:RBA)

Dynamic Technology Lab Private Ltd purchased a new position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,920 shares of the business services provider's stock, valued at approximately $1,362,000.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of RB Global by 142.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider's stock valued at $102,154,000 after acquiring an additional 787,042 shares during the last quarter. CIBC Asset Management Inc increased its holdings in RB Global by 1,879.0% in the second quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider's stock valued at $47,761,000 after buying an additional 594,941 shares during the last quarter. Principal Financial Group Inc. increased its stake in RB Global by 3,387.9% during the second quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider's stock valued at $46,712,000 after purchasing an additional 594,199 shares during the last quarter. Retirement Systems of Alabama acquired a new stake in shares of RB Global during the second quarter worth $21,724,000. Finally, Rhumbline Advisers lifted its position in shares of RB Global by 135.7% in the 2nd quarter. Rhumbline Advisers now owns 480,801 shares of the business services provider's stock worth $36,714,000 after buying an additional 276,843 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Wall Street Analyst Weigh In

RBA has been the subject of several recent research reports. BMO Capital Markets upped their target price on RB Global from $105.00 to $107.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Raymond James upped their price target on shares of 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 lifted their price objective 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. Royal Bank of Canada upped their target price on shares of RB Global from $99.00 to $107.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Finally, Robert W. Baird boosted their price objective on RB Global from $86.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $98.36.

RB Global Price Performance

Shares of RBA stock traded up $0.17 during mid-day trading on Wednesday, hitting $97.67. 264,489 shares of the stock traded hands, compared to its average volume of 1,010,742. 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 firm has a market cap of $18.01 billion, a price-to-earnings ratio of 53.17, a price-to-earnings-growth ratio of 4.73 and a beta of 0.92. The company's 50-day simple moving average is $86.09 and its 200-day simple moving average is $81.62. RB Global, Inc. has a twelve month low of $60.84 and a twelve month high of $99.79.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Wednesday, November 27th. RB Global's payout ratio is 63.04%.

Insider Activity

In other news, CEO James Francis Kessler sold 17,883 shares of the company's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the completion of the transaction, the chief executive officer now owns 86,247 shares of the company's stock, valued at approximately $7,166,263.23. 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 accessible through the SEC website. 4.10% of the stock is currently owned by company insiders.

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.