Geode Capital Management LLC Purchases 108,188 Shares of RB Global, Inc. (NYSE:RBA)

Geode Capital Management LLC lifted its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 3.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,702,381 shares of the business services provider's stock after purchasing an additional 108,188 shares during the quarter. Geode Capital Management LLC owned 2.01% of RB Global worth $297,400,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. UMB Bank n.a. grew its stake in shares of RB Global by 196.0% in the 3rd 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 in the last quarter. Quarry LP bought a new stake in RB Global during the second quarter worth approximately $53,000. Covestor Ltd raised its position in RB Global by 533.1% during the third 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 period. Nisa Investment Advisors LLC lifted its stake in shares of RB Global by 33.5% in the 2nd 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 during the last quarter. Finally, Hollencrest Capital Management boosted its holdings in shares of RB Global by 99.8% in the 3rd quarter. Hollencrest Capital Management now owns 875 shares of the business services provider's stock worth $70,000 after purchasing an additional 437 shares during the period. Institutional investors own 95.37% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RBA shares. 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 report 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 company an "outperform" rating in a research note on Monday, November 11th. CIBC lifted their price target on shares of RB Global from $102.00 to $109.00 and gave the stock an "outperformer" rating in a research note on Thursday. Robert W. Baird increased their price objective on shares of RB Global from $86.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Finally, Bank of America boosted their target price on 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 five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $100.36.

RB Global Trading Down 0.8 %

RBA traded down $0.73 on Friday, reaching $94.87. 426,730 shares of the company traded hands, compared to its average volume of 788,673. 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 company has a market cap of $17.49 billion, a P/E ratio of 51.56, a price-to-earnings-growth ratio of 4.56 and a beta of 0.95. The firm has a fifty day simple moving average of $89.95 and a two-hundred day simple moving average of $83.58. RB Global, Inc. has a one year low of $60.84 and a one year high of $99.79.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.22%. RB Global's payout ratio is 63.04%.

Insider Buying and Selling

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now owns 86,247 shares of the company's stock, valued at approximately $7,261,134.93. This trade represents a 17.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.32% of the stock is owned by 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.