Principal Financial Group Inc. decreased its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 30.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 426,637 shares of the business services provider's stock after selling 185,101 shares during the period. Principal Financial Group Inc. owned 0.23% of RB Global worth $34,340,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the business. SG Americas Securities LLC raised its holdings in RB Global by 365.3% during the 1st quarter. SG Americas Securities LLC now owns 18,069 shares of the business services provider's stock valued at $1,376,000 after buying an additional 14,186 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in RB Global by 4.9% during the 1st quarter. Orion Portfolio Solutions LLC now owns 15,359 shares of the business services provider's stock valued at $1,170,000 after purchasing an additional 713 shares during the last quarter. Intech Investment Management LLC bought a new position in RB Global during the 1st quarter valued at about $613,000. Vanguard Group Inc. lifted its stake in RB Global by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider's stock valued at $1,827,528,000 after acquiring an additional 1,153,497 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its stake in shares of RB Global by 29.4% in the 1st quarter. Hillsdale Investment Management Inc. now owns 132,100 shares of the business services provider's stock worth $10,066,000 after purchasing an additional 30,000 shares during the period. Hedge funds and other institutional investors own 95.37% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of RB Global from $99.00 to $107.00 and gave the stock an "outperform" rating in a research note on Monday. BMO Capital Markets increased their price objective on shares of RB Global from $105.00 to $107.00 and gave the company an "outperform" rating in a report on Monday. Raymond James increased their price objective on shares of RB Global from $95.00 to $98.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. Bank of America increased their price objective on shares of RB Global from $79.00 to $92.50 and gave the company a "neutral" rating in a report on Monday, August 26th. Finally, Robert W. Baird increased their price objective on shares of RB Global from $86.00 to $100.00 and gave the company an "outperform" rating in a report on Monday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $98.36.
Read Our Latest Analysis on RBA
RB Global Trading Down 0.9 %
Shares of RBA traded down $0.83 during midday trading on Tuesday, reaching $92.87. The company had a trading volume of 585,834 shares, compared to its average volume of 1,019,087. RB Global, Inc. has a 1-year low of $58.85 and a 1-year high of $94.85. The stock has a market cap of $17.13 billion, a PE ratio of 50.92, a price-to-earnings-growth ratio of 5.99 and a beta of 0.92. The firm has a 50 day simple moving average of $83.81 and a 200-day simple moving average of $79.91. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55.
RB Global Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global's payout ratio is presently 63.04%.
Insider Activity
In other RB Global news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the transaction, the chief executive officer now owns 86,247 shares of the company's stock, valued at $7,166,263.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of the business's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $82.80, for a total transaction of $241,362.00. Following the sale, the insider now directly owns 19,271 shares in the company, valued at approximately $1,595,638.80. The trade was a 0.00 % 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. Also, CEO James Francis Kessler sold 17,883 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $83.09, for a total value of $1,485,898.47. Following the sale, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,166,263.23. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,681 shares of company stock worth $3,489,480. 4.32% of the stock is currently owned by company insiders.
About RB Global
(
Free Report)
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.
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