Royce & Associates LP Cuts Holdings in RB Global, Inc. (NYSE:RBA)

Royce & Associates LP cut its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 4.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 572,014 shares of the business services provider's stock after selling 28,571 shares during the quarter. Royce & Associates LP owned approximately 0.31% of RB Global worth $46,041,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of RBA. Massmutual Trust Co. FSB ADV increased its position in shares of RB Global by 58.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider's stock valued at $34,000 after buying an additional 165 shares in the last quarter. UMB Bank n.a. increased its holdings in RB Global by 196.0% in the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider's stock worth $47,000 after acquiring an additional 388 shares in the last quarter. Quarry LP acquired a new position in RB Global during the second quarter worth $53,000. Nisa Investment Advisors LLC lifted its holdings in RB Global by 33.5% during the second 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 in the last quarter. Finally, Covestor Ltd grew 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 purchasing an additional 677 shares during the period. Hedge funds and other institutional investors own 95.37% of the company's stock.

Insider Activity at RB Global

In related news, CRO James J. Jeter sold 3,000 shares of RB Global stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total value of $256,650.00. Following the completion of the transaction, the executive now owns 20,267 shares in the company, valued at approximately $1,733,841.85. The trade was a 12.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction that occurred 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 owns 19,271 shares in the company, valued at approximately $1,595,638.80. This trade represents a 13.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,681 shares of company stock worth $3,489,480. Company insiders own 4.32% of the company's stock.

RB Global Trading Up 0.4 %

Shares of RBA stock traded up $0.40 on Friday, hitting $92.76. 956,543 shares of the stock traded hands, compared to its average volume of 1,017,269. RB Global, Inc. has a twelve month low of $59.38 and a twelve month high of $94.85. The stock has a market capitalization of $17.11 billion, a PE ratio of 50.20, a PEG ratio of 4.47 and a beta of 0.92. The firm's 50-day moving average price is $84.30 and its two-hundred day moving average price is $80.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a $0.29 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.25%. RB Global's dividend payout ratio is currently 63.04%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Raymond James upped their price target on shares of RB Global from $95.00 to $98.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. Bank of America raised their target price on RB Global from $79.00 to $92.50 and gave the company a "neutral" rating in a research report on Monday, August 26th. BMO Capital Markets boosted their price target on RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a research report on Monday. Robert W. Baird raised their price objective on RB Global from $86.00 to $100.00 and gave the company an "outperform" rating in a report on Monday. Finally, Royal Bank of Canada upped their target price on shares of RB Global from $99.00 to $107.00 and gave the stock an "outperform" rating in a report on Monday. Two equities 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 target price of $98.36.

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.