Swiss National Bank Purchases 6,400 Shares of RB Global, Inc. (NYSE:RBA)

Swiss National Bank raised its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 555,543 shares of the business services provider's stock after buying an additional 6,400 shares during the quarter. Swiss National Bank owned 0.30% of RB Global worth $44,783,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in RB Global by 25.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider's stock valued at $27,927,000 after acquiring an additional 74,809 shares during the period. Arlington Partners LLC raised its stake in shares of RB Global by 22.3% in the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider's stock valued at $3,958,000 after purchasing an additional 8,961 shares in the last quarter. MJP Associates Inc. ADV lifted its position in RB Global by 10.7% in the second quarter. MJP Associates Inc. ADV now owns 4,159 shares of the business services provider's stock worth $318,000 after purchasing an additional 401 shares during the period. Cetera Investment Advisers boosted its stake in RB Global by 1,177.0% during the first quarter. Cetera Investment Advisers now owns 43,572 shares of the business services provider's stock worth $3,319,000 after buying an additional 40,160 shares in the last quarter. Finally, Boston Partners increased its holdings in RB Global by 4.1% in the 1st quarter. Boston Partners now owns 3,029,758 shares of the business services provider's stock valued at $230,543,000 after buying an additional 120,469 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CRO James J. Jeter sold 3,000 shares of the company's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.55, for a total transaction of $256,650.00. Following the transaction, the executive now owns 20,267 shares of the company's stock, valued at $1,733,841.85. This represents a 12.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Francis Kessler sold 17,883 shares of the firm's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the completion of the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,166,263.23. This trade represents a 17.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,766 shares of company stock valued at $3,248,118. 4.32% of the stock is currently owned by corporate insiders.

RB Global Price Performance

RBA stock traded up $1.60 during midday trading on Thursday, reaching $95.34. 706,857 shares of the company's stock traded hands, compared to its average volume of 1,014,269. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. The company has a market cap of $17.58 billion, a price-to-earnings ratio of 51.91, a PEG ratio of 4.50 and a beta of 0.92. The company has a 50-day simple moving average of $85.09 and a two-hundred day simple moving average of $80.88. RB Global, Inc. has a 1-year low of $60.84 and a 1-year high of $95.65.

RB Global Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Bank of America raised their price objective on shares of RB Global from $79.00 to $92.50 and gave the stock a "neutral" rating in a report on Monday, August 26th. BMO Capital Markets lifted their price objective on RB Global from $105.00 to $107.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Raymond James increased their target price on RB Global from $95.00 to $98.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. 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 report on Monday, November 11th. Finally, Royal Bank of Canada upped their price target on RB Global from $99.00 to $107.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently 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.