National Bank of Canada FI Boosts Holdings in RB Global, Inc. (NYSE:RBA)

National Bank of Canada FI lifted its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 309.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 808,172 shares of the business services provider's stock after purchasing an additional 610,843 shares during the period. National Bank of Canada FI owned 0.44% of RB Global worth $65,014,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Weiss Asset Management LP bought a new position in shares of RB Global during the 3rd quarter worth approximately $1,649,000. State Street Corp lifted its position in shares of RB Global by 2.1% during the 3rd quarter. State Street Corp now owns 5,045,188 shares of the business services provider's stock valued at $406,087,000 after acquiring an additional 103,080 shares during the period. Quantinno Capital Management LP boosted its stake in RB Global by 8.5% during the third quarter. Quantinno Capital Management LP now owns 27,973 shares of the business services provider's stock worth $2,252,000 after acquiring an additional 2,180 shares in the last quarter. Quarry LP grew its holdings in RB Global by 138.0% in the third quarter. Quarry LP now owns 1,652 shares of the business services provider's stock worth $133,000 after purchasing an additional 958 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in RB Global by 0.7% in the third quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider's stock worth $272,293,000 after purchasing an additional 24,101 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RBA shares. Bank of America increased their price objective on shares of RB Global from $79.00 to $92.50 and gave the stock a "neutral" rating in a research report on Monday, August 26th. BMO Capital Markets increased their price target on RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Robert W. Baird raised their price objective on RB Global from $86.00 to $100.00 and gave the company an "outperform" rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada upped their target price on RB Global from $99.00 to $107.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, RB Global currently has a consensus rating of "Moderate Buy" and an average price target of $98.36.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $84.19, for a total value of $1,505,569.77. Following the transaction, the chief executive officer now owns 86,247 shares in the company, valued at $7,261,134.93. The trade was a 17.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.32% of the company's stock.

RB Global Stock Down 0.8 %

RBA traded down $0.75 during midday trading on Friday, reaching $96.84. 478,301 shares of the company were exchanged, compared to its average volume of 927,399. RB Global, Inc. has a one year low of $60.84 and a one 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. The company's fifty day moving average price is $88.39 and its 200 day moving average price is $82.80. The company has a market cap of $17.86 billion, a price-to-earnings ratio of 52.63, a price-to-earnings-growth ratio of 4.72 and a beta of 0.95.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global's dividend payout ratio (DPR) is presently 63.04%.

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.