Orion Portfolio Solutions LLC Trims Stock Holdings in RB Global, Inc. (NYSE:RBA)

Orion Portfolio Solutions LLC lessened its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 58.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,072 shares of the business services provider's stock after selling 8,705 shares during the period. Orion Portfolio Solutions LLC's holdings in RB Global were worth $489,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its position in RB Global by 2.1% during the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider's stock worth $406,087,000 after buying an additional 103,080 shares during the period. Janus Henderson Group PLC increased its position in RB Global by 0.7% during 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 buying an additional 24,101 shares during the period. Cooke & Bieler LP increased its position in RB Global by 3.4% during the second quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider's stock worth $252,865,000 after buying an additional 109,056 shares during the period. Fiera Capital Corp increased its position 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 period. Finally, The Manufacturers Life Insurance Company increased its position in RB Global by 17.1% during the third quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider's stock worth $196,109,000 after buying an additional 354,803 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

RB Global Price Performance

Shares of RB Global stock traded down $2.79 during trading on Wednesday, reaching $90.83. The company's stock had a trading volume of 758,462 shares, compared to its average volume of 998,457. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. RB Global, Inc. has a 12-month low of $60.84 and a 12-month high of $99.79. The company has a market capitalization of $16.75 billion, a P/E ratio of 49.36, a price-to-earnings-growth ratio of 4.56 and a beta of 0.95. The business has a 50 day moving average price of $90.49 and a 200-day moving average price of $83.88.

RB Global Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have commented on RBA shares. Royal Bank of Canada lifted their price target on RB Global from $99.00 to $107.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. CIBC lifted their price target on RB Global from $102.00 to $109.00 and gave the stock an "outperformer" rating in a research report on Thursday, December 12th. Robert W. Baird lifted their price target on RB Global from $86.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. BMO Capital Markets boosted 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. Finally, Bank of America boosted their target price on RB Global from $79.00 to $92.50 and gave the company a "neutral" rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $100.36.

Insider Activity at RB Global

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the business's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the sale, the chief executive officer now directly owns 86,247 shares in the company, valued at approximately $7,261,134.93. The trade was a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.32% of the company's stock.

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.