Stifel Financial Corp Sells 8,270 Shares of RB Global, Inc. (NYSE:RBA)

Stifel Financial Corp cut its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,810 shares of the business services provider's stock after selling 8,270 shares during the quarter. Stifel Financial Corp's holdings in RB Global were worth $6,102,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RBA. UMB Bank n.a. increased its stake in RB Global by 196.0% in the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider's stock valued at $47,000 after purchasing an additional 388 shares in the last quarter. Quarry LP acquired a new position in shares of RB Global in the second quarter valued at approximately $53,000. Nisa Investment Advisors LLC boosted its stake in RB Global by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider's stock valued at $64,000 after purchasing an additional 210 shares during the period. Covestor Ltd boosted its position in shares of RB Global by 533.1% in the third quarter. Covestor Ltd now owns 804 shares of the business services provider's stock valued at $65,000 after acquiring an additional 677 shares during the period. Finally, Hollencrest Capital Management boosted its stake in shares of RB Global by 99.8% in the third quarter. Hollencrest Capital Management now owns 875 shares of the business services provider's stock valued at $70,000 after buying an additional 437 shares during the period. 95.37% of the stock is owned by institutional investors.

RB Global Trading Down 0.8 %

RBA traded down $0.73 during midday trading on Friday, hitting $94.87. 426,730 shares of the company were exchanged, compared to its average volume of 1,000,317. The firm's 50 day moving average price is $89.95 and its 200-day moving average price is $83.45. RB Global, Inc. has a 1-year low of $60.84 and a 1-year high of $99.79. The firm has a market capitalization of $17.50 billion, a P/E ratio of 51.56, a P/E/G ratio of 4.61 and a beta of 0.95. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.22%. The ex-dividend date is Wednesday, November 27th. RB Global's dividend payout ratio (DPR) is presently 63.04%.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 17,883 shares of RB Global 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 $7,261,134.93. The trade was a 17.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.32% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on RBA. Bank of America boosted 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. 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 note on Monday, November 11th. Robert W. Baird lifted their price target on RB Global from $86.00 to $100.00 and gave the company an "outperform" rating in a research note on Monday, November 11th. BMO Capital Markets upped their price objective on RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Finally, CIBC lifted their target price on RB Global from $102.00 to $109.00 and gave the company an "outperformer" rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $100.36.

About RB Global

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.