Toronto Dominion Bank Acquires 47,245 Shares of RB Global, Inc. (NYSE:RBA)

Toronto Dominion Bank increased its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 41.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,015 shares of the business services provider's stock after acquiring an additional 47,245 shares during the quarter. Toronto Dominion Bank owned about 0.09% of RB Global worth $13,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

RB Global Stock Performance

RBA traded down $0.73 during mid-day trading on Friday, reaching $94.87. 426,730 shares of the company traded hands, compared to its average volume of 1,000,317. The stock 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. RB Global, Inc. has a 52-week low of $60.84 and a 52-week high of $99.79. 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's fifty day moving average price is $89.95 and its 200-day moving average price is $83.51.

RB Global Dividend Announcement

The company 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 annualized dividend and a yield of 1.22%. RB Global's payout ratio is 63.04%.

Insider Buying and Selling at RB Global

In related 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 transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at approximately $7,261,134.93. The trade was a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RBA shares. Bank of America raised their price objective on shares of RB Global from $79.00 to $92.50 and gave the company a "neutral" rating in a research note on Monday, August 26th. CIBC raised their price target on shares of RB Global from $102.00 to $109.00 and gave the company an "outperformer" rating in a research report on Thursday. BMO Capital Markets upped their price objective on RB Global from $105.00 to $107.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Royal Bank of Canada lifted their target price on RB Global from $99.00 to $107.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Finally, Robert W. Baird boosted their price target on RB Global from $86.00 to $100.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, RB Global presently has an average rating of "Moderate Buy" and a consensus price target of $100.36.

RB Global Company 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.