RB Global, Inc. (NYSE:RBA) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC lifted its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 271.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,397 shares of the business services provider's stock after purchasing an additional 33,896 shares during the quarter. Verition Fund Management LLC's holdings in RB Global were worth $3,734,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Arlington Partners LLC increased its holdings in 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 buying an additional 8,961 shares in the last quarter. MJP Associates Inc. ADV lifted its position in shares of RB Global by 10.7% during the 2nd quarter. MJP Associates Inc. ADV now owns 4,159 shares of the business services provider's stock valued at $318,000 after buying an additional 401 shares in the last quarter. Cetera Investment Advisers grew its stake in RB Global by 1,177.0% in the 1st quarter. Cetera Investment Advisers now owns 43,572 shares of the business services provider's stock valued at $3,319,000 after acquiring an additional 40,160 shares during the period. CIBC Asset Management Inc increased its holdings in RB Global by 57.1% in the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider's stock worth $80,076,000 after acquiring an additional 357,761 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in RB Global by 348.7% during the second quarter. SG Americas Securities LLC now owns 81,076 shares of the business services provider's stock worth $6,191,000 after acquiring an additional 63,007 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 shares were sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the sale, the chief executive officer now directly owns 86,247 shares of the company's stock, valued at $7,261,134.93. This represents a 17.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.10% of the company's stock.

RB Global Trading Up 0.8 %

RB Global stock traded up $0.74 during mid-day trading on Wednesday, hitting $98.22. The company's stock had a trading volume of 1,211,373 shares, compared to its average volume of 1,014,107. The stock's fifty day moving average is $87.40 and its two-hundred day moving average is $82.38. 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 firm has a market capitalization of $18.11 billion, a PE ratio of 52.97, a price-to-earnings-growth ratio of 4.67 and a beta of 0.95. RB Global, Inc. has a 1 year low of $60.84 and a 1 year high of $99.79.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. RB Global's dividend payout ratio is currently 63.04%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Raymond James lifted their price target on RB Global from $95.00 to $98.00 and gave the stock an "outperform" rating in a research note on Thursday, August 8th. Robert W. Baird increased their price objective on RB Global from $86.00 to $100.00 and gave the company an "outperform" rating in a research note on Monday, November 11th. Bank of America lifted their target price on shares of RB Global from $79.00 to $92.50 and gave the stock a "neutral" rating in a research note on Monday, August 26th. Finally, BMO Capital Markets increased their target price on shares of RB Global from $105.00 to $107.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, RB Global currently has an average rating of "Moderate Buy" and a consensus target price of $98.36.

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.