19,030 Shares in RB Global, Inc. (NYSE:RBA) Acquired by Neo Ivy Capital Management

Neo Ivy Capital Management bought a new position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 19,030 shares of the business services provider's stock, valued at approximately $1,532,000.

Other large investors have also recently made changes to their positions in the company. State Street Corp boosted its position in RB Global by 2.1% in 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 buying an additional 103,080 shares during the period. Geode Capital Management LLC lifted its position in shares of RB Global by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider's stock worth $297,400,000 after purchasing an additional 108,188 shares during the period. Janus Henderson Group PLC lifted its position in shares of RB Global by 0.7% in the 3rd 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. Cooke & Bieler LP lifted its position in shares of RB Global by 3.4% in the 2nd quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider's stock worth $252,865,000 after purchasing an additional 109,056 shares during the period. Finally, Fiera Capital Corp lifted its position in shares of RB Global by 5.7% in the 2nd quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider's stock worth $239,881,000 after purchasing an additional 168,945 shares during the period. 95.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling at RB Global

In other 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 value of $1,505,569.77. Following the transaction, the chief executive officer now directly 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 filing with the SEC, which is available at this link. Insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Bank of America increased their target price 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 increased their target price on shares of RB Global from $86.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Royal Bank of Canada increased their target price on shares of RB Global from $99.00 to $107.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Finally, BMO Capital Markets upped their price target 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. Two 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, RB Global currently has an average rating of "Moderate Buy" and an average price target of $98.36.

RB Global Price Performance

RBA traded up $0.12 during midday trading on Wednesday, hitting $96.27. 230,423 shares of the company traded hands, compared to its average volume of 1,003,296. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $17.75 billion, a price-to-earnings ratio of 52.27, a PEG ratio of 4.65 and a beta of 0.95. RB Global, Inc. has a 52-week low of $60.84 and a 52-week high of $99.79. The business has a 50 day simple moving average of $89.05 and a two-hundred day simple moving average of $83.15.

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 issued 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 payout ratio is 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.