Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in RB Global, Inc. (NYSE:RBA)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 86.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 69,533 shares of the business services provider's stock after purchasing an additional 32,235 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in RB Global were worth $5,602,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Massmutual Trust Co. FSB ADV raised its position in RB Global by 58.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider's stock worth $34,000 after buying an additional 165 shares during the last quarter. UMB Bank n.a. lifted 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 purchasing an additional 388 shares during the period. Quarry LP purchased a new stake in RB Global in the second quarter worth approximately $53,000. Nisa Investment Advisors LLC grew its position 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. Finally, Covestor Ltd raised its stake in RB Global by 533.1% during the 3rd 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. Institutional investors own 95.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Royal Bank of Canada upped their price objective 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 increased their price objective on shares of 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 boosted their target price on shares of RB Global from $86.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. BMO Capital Markets increased their price target on shares of RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Finally, Bank of America upped their price objective on RB Global from $79.00 to $92.50 and gave the stock a "neutral" rating in a research note on Monday, August 26th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, RB Global currently has an average rating of "Moderate Buy" and an average price target of $98.36.

RB Global Price Performance

RBA traded up $0.33 on Tuesday, hitting $97.47. 1,559,756 shares of the company's stock traded hands, compared to its average volume of 1,013,213. RB Global, Inc. has a one year low of $60.84 and a one year high of $99.79. 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 cap of $17.97 billion, a price-to-earnings ratio of 52.98, a P/E/G ratio of 4.67 and a beta of 0.95. The company's 50 day simple moving average is $87.13 and its 200-day simple moving average is $82.23.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.19%. The ex-dividend date is Wednesday, November 27th. RB Global's payout ratio is currently 63.04%.

Insider Buying and Selling at RB Global

In other RB Global 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 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. The trade was a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.10% of the company's stock.

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.