The Manufacturers Life Insurance Company Grows Stock Holdings in RB Global, Inc. (NYSE:RBA)

The Manufacturers Life Insurance Company lifted its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 17.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,435,191 shares of the business services provider's stock after acquiring an additional 354,803 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 1.32% of RB Global worth $196,109,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of RB Global by 25.6% in 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 in the last quarter. Bayesian Capital Management LP bought a new stake in shares of RB Global in the 1st quarter valued at about $865,000. EdgePoint Investment Group Inc. boosted its stake in shares of RB Global by 1.4% during the first quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider's stock valued at $652,590,000 after purchasing an additional 114,225 shares in the last quarter. Virtu Financial LLC purchased a new position in RB Global during the first quarter valued at approximately $235,000. Finally, Cetera Investment Advisers increased its holdings 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 valued at $3,319,000 after buying an additional 40,160 shares during the period. Institutional investors own 95.37% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Royal Bank of Canada increased their target price on RB Global from $99.00 to $107.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Raymond James lifted their target price on RB Global from $95.00 to $98.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. Bank of America increased their price target 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 lifted their price objective on shares of RB Global from $86.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Finally, BMO Capital Markets lifted their price target on shares of RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $98.36.

RB Global Stock Down 0.7 %

Shares of RBA stock opened at $97.83 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. RB Global, Inc. has a twelve month low of $60.84 and a twelve month high of $99.79. The stock has a 50 day moving average of $85.82 and a 200 day moving average of $81.47. The stock has a market cap of $18.04 billion, a P/E ratio of 53.17, a P/E/G ratio of 4.73 and a beta of 0.92.

RB Global Dividend Announcement

The company also recently announced 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. This represents a $1.16 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Wednesday, November 27th. RB Global's dividend payout ratio is currently 63.04%.

Insider Activity at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the business'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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.10% of the stock is owned by company insiders.

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.

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