State Street Corp Purchases 103,080 Shares of RB Global, Inc. (NYSE:RBA)

State Street Corp increased its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 2.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,045,188 shares of the business services provider's stock after purchasing an additional 103,080 shares during the period. State Street Corp owned approximately 2.74% of RB Global worth $406,087,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. boosted its position in RB Global by 196.0% during the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider's stock valued at $47,000 after buying an additional 388 shares during the period. Quarry LP purchased a new stake in RB Global during the 2nd quarter valued at about $53,000. Nisa Investment Advisors LLC increased 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 worth $64,000 after purchasing an additional 210 shares during the period. Covestor Ltd increased its stake in RB Global by 533.1% in the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider's stock worth $65,000 after purchasing an additional 677 shares during the period. Finally, Hollencrest Capital Management lifted its position in 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 purchasing an additional 437 shares during the last quarter. Institutional investors own 95.37% of the company's stock.

RB Global Stock Down 1.3 %

RB Global stock traded down $1.22 during trading hours on Tuesday, hitting $96.15. 545,687 shares of the stock traded hands, compared to its average volume of 1,006,572. RB Global, Inc. has a one year low of $60.84 and a one year high of $99.79. The firm's 50-day moving average price is $88.73 and its two-hundred day moving average price is $83.01. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The company has a market cap of $17.73 billion, a PE ratio of 52.39, a PEG ratio of 4.65 and a beta of 0.95.

RB Global Dividend Announcement

The company 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 annualized dividend and a yield of 1.21%. RB Global's payout ratio is 63.04%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RBA. Royal Bank of Canada lifted 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, November 11th. Bank of America boosted their price objective 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. Robert W. Baird raised their target price on RB Global from $86.00 to $100.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. Finally, BMO Capital Markets boosted their price target on RB Global from $105.00 to $107.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, RB Global presently has a consensus rating of "Moderate Buy" and an average price target of $98.36.

Insider Buying and Selling at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 86,247 shares in the company, valued at $7,261,134.93. This represents a 17.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.10% of the company's stock.

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.