M&T Bank Corp Sells 6,770 Shares of RB Global, Inc. (NYSE:RBA)

M&T Bank Corp lessened its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 14.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,928 shares of the business services provider's stock after selling 6,770 shares during the period. M&T Bank Corp's holdings in RB Global were worth $3,134,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RBA. State Street Corp grew its stake in RB Global by 2.1% in the third 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. Janus Henderson Group PLC increased its stake in RB Global by 0.7% during the 3rd quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider's stock valued at $272,293,000 after purchasing an additional 24,101 shares in the last quarter. Cooke & Bieler LP increased its stake in RB Global by 3.4% during the 2nd quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider's stock valued at $252,865,000 after purchasing an additional 109,056 shares in the last quarter. Fiera Capital Corp raised its holdings in RB Global by 5.7% during the second quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider's stock worth $239,881,000 after buying an additional 168,945 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of RB Global by 17.1% in the third quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider's stock valued at $196,109,000 after buying an additional 354,803 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

RB Global Stock Performance

Shares of RB Global stock traded down $0.73 during trading hours on Friday, hitting $94.87. 426,730 shares of the company's stock traded hands, compared to its average volume of 1,000,317. The stock has a market capitalization of $17.50 billion, a price-to-earnings ratio of 51.56, a PEG ratio of 4.61 and a beta of 0.95. RB Global, Inc. has a 12-month low of $60.84 and a 12-month high of $99.79. 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 fifty day simple moving average of $89.95 and a 200-day simple moving average of $83.51.

RB Global Dividend Announcement

The business 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 dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.22%. RB Global's payout ratio is currently 63.04%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RBA. Bank of America upped their target price on shares of RB Global from $79.00 to $92.50 and gave the stock a "neutral" rating in a report on Monday, August 26th. BMO Capital Markets raised their target price on RB Global from $105.00 to $107.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Robert W. Baird lifted their target price on 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 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. Finally, CIBC upped their target price on shares of RB Global from $102.00 to $109.00 and gave the stock an "outperformer" rating in a research note on Thursday. Two equities 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 currently has an average rating of "Moderate Buy" and an average target price of $100.36.

Insider Buying and Selling

In related news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction dated 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 completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.32% of the stock is currently owned by insiders.

RB Global 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.