HighTower Advisors LLC Has $1.29 Million Stock Position in RB Global, Inc. (NYSE:RBA)

HighTower Advisors LLC lowered its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 70.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,951 shares of the business services provider's stock after selling 37,353 shares during the period. HighTower Advisors LLC's holdings in RB Global were worth $1,290,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in RBA. UMB Bank n.a. increased its position in RB Global by 196.0% during 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 position in shares of RB Global during the 2nd quarter worth approximately $53,000. Nisa Investment Advisors LLC increased its holdings in shares of RB Global by 33.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider's stock worth $64,000 after acquiring an additional 210 shares during the last quarter. Covestor Ltd raised its stake in 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 acquiring an additional 677 shares during the period. Finally, Hollencrest Capital Management lifted its holdings in RB Global by 99.8% during the 3rd quarter. Hollencrest Capital Management now owns 875 shares of the business services provider's stock valued at $70,000 after purchasing an additional 437 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Analyst Ratings Changes

RBA has been the topic of several research analyst reports. Bank of America increased 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. Robert W. Baird raised 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. CIBC boosted their price objective on RB Global from $102.00 to $109.00 and gave the stock an "outperformer" rating in a report on Thursday, December 12th. BMO Capital Markets boosted their price target on RB Global from $105.00 to $107.00 and gave the company an "outperform" rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada increased 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. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $100.36.

RB Global Price Performance

RBA stock traded down $1.39 during trading on Tuesday, reaching $93.62. 934,974 shares of the company were exchanged, compared to its average volume of 999,445. The company has a market capitalization of $17.26 billion, a price-to-earnings ratio of 50.88, a P/E/G ratio of 4.56 and a beta of 0.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. The company has a 50-day moving average of $90.25 and a two-hundred day moving average of $83.73. RB Global, Inc. has a twelve month low of $60.84 and a twelve month high of $99.79.

RB Global Dividend Announcement

The company also recently declared 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 1.24%. The ex-dividend date is Wednesday, November 27th. RB Global's payout ratio is 63.04%.

Insider Activity at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the firm'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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.32% 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.