Fmr LLC Has $95.06 Million Stock Position in RB Global, Inc. (NYSE:RBA)

Fmr LLC increased its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 60.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,180,975 shares of the business services provider’s stock after purchasing an additional 445,004 shares during the period. Fmr LLC owned approximately 0.64% of RB Global worth $95,057,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in RB Global by 142.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock worth $102,154,000 after purchasing an additional 787,042 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of RB Global by 1,879.0% during the 2nd quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock worth $47,761,000 after buying an additional 594,941 shares during the period. Principal Financial Group Inc. grew its stake in RB Global by 3,387.9% in the 2nd quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock valued at $46,712,000 after buying an additional 594,199 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in 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. Finally, Retirement Systems of Alabama acquired a new position in RB Global during the 2nd quarter worth $21,724,000. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Trading Down 0.6 %

RBA stock opened at $97.59 on Friday. The business has a fifty day moving average price of $88.06 and a 200 day moving average price of $82.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. RB Global, Inc. has a fifty-two week low of $60.84 and a fifty-two week high of $99.79. The stock has a market capitalization of $18.00 billion, a price-to-earnings ratio of 53.04, a P/E/G ratio of 4.68 and a beta of 0.95.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.19%. RB Global’s dividend payout ratio (DPR) is currently 63.04%.

Analysts Set New Price Targets

RBA has been the subject of several research analyst reports. Bank of America boosted their price objective on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Raymond James increased their price objective on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Royal Bank of Canada raised their price objective on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. BMO Capital Markets upped their target price on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, Robert W. Baird raised their price target 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, RB Global presently has an average rating of “Moderate Buy” and an average price target of $98.36.

Insider Transactions at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,261,134.93. This represents a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.32% of the stock is currently owned by corporate insiders.

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.