JPMorgan Chase & Co. Has $108 Million Position in RB Global, Inc. (NYSE:RBA)

JPMorgan Chase & Co. trimmed its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 15.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,341,818 shares of the business services provider's stock after selling 243,715 shares during the quarter. JPMorgan Chase & Co. owned about 0.73% of RB Global worth $108,003,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RBA. Retirement Systems of Alabama raised its stake in shares of RB Global by 1.1% during the third quarter. Retirement Systems of Alabama now owns 287,684 shares of the business services provider's stock valued at $23,156,000 after purchasing an additional 3,192 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in RB Global during the 3rd quarter valued at about $465,000. Teachers Retirement System of The State of Kentucky raised its position in shares of RB Global by 53.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider's stock worth $4,805,000 after buying an additional 20,795 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of RB Global by 41.2% in the 3rd quarter. Toronto Dominion Bank now owns 162,015 shares of the business services provider's stock worth $13,041,000 after acquiring an additional 47,245 shares during the period. Finally, Neo Ivy Capital Management bought a new position in shares of RB Global in the third quarter valued at approximately $1,532,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Price Performance

Shares of RBA stock traded up $0.13 during mid-day trading on Thursday, reaching $90.34. The company's stock had a trading volume of 561,029 shares, compared to its average volume of 991,242. The firm's 50-day moving average is $92.54 and its two-hundred day moving average is $84.97. The company has a market cap of $16.69 billion, a P/E ratio of 49.10, a PEG ratio of 4.56 and a beta of 0.95. RB Global, Inc. has a 1-year low of $60.84 and a 1-year high of $99.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were given a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.28%. RB Global's dividend payout ratio (DPR) is presently 63.04%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on RB Global from $99.00 to $107.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Robert W. Baird boosted their price target 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 raised their price objective on shares of RB Global from $102.00 to $109.00 and gave the company an "outperformer" rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets lifted their price objective 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. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $100.36.

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.