RB Global, Inc. (NYSE:RBA) Shares Sold by XTX Topco Ltd

XTX Topco Ltd trimmed its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 52.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,593 shares of the business services provider’s stock after selling 9,626 shares during the period. XTX Topco Ltd’s holdings in RB Global were worth $692,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in RBA. State Street Corp grew its position in shares of RB Global by 2.1% during the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock worth $406,087,000 after acquiring an additional 103,080 shares during the last quarter. Janus Henderson Group PLC grew its position in RB Global by 0.7% in the 3rd quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider’s stock valued at $272,293,000 after buying an additional 24,101 shares in the last quarter. Cooke & Bieler LP increased its stake in RB Global by 3.4% during the 2nd quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider’s stock valued at $252,865,000 after buying an additional 109,056 shares during the period. Fiera Capital Corp raised its position in shares of RB Global by 5.7% during the 2nd quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock worth $239,881,000 after buying an additional 168,945 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of RB Global by 17.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock worth $196,109,000 after acquiring an additional 354,803 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Buying and Selling at RB Global

In other 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

RBA has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price objective on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. BMO Capital Markets boosted their price objective on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Robert W. Baird raised their target price on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, Bank of America boosted their price target on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Two analysts have rated the stock with a hold rating and six have given 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.

RB Global Stock Performance

Shares of NYSE RBA opened at $96.04 on Thursday. The stock’s fifty day simple moving average is $89.37 and its 200 day simple moving average is $83.24. The stock has a market capitalization of $17.71 billion, a price-to-earnings ratio of 52.20, a PEG ratio of 4.65 and a beta of 0.95. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. RB Global, Inc. has a 52-week low of $60.84 and a 52-week high of $99.79.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 annualized dividend and a yield of 1.21%. RB Global’s payout ratio is presently 63.04%.

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.