JPMorgan Chase & Co. Sells 243,715 Shares of RB Global, Inc. (NYSE:RBA)

JPMorgan Chase & Co. lessened its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 15.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,341,818 shares of the business services provider’s stock after selling 243,715 shares during the quarter. JPMorgan Chase & Co. owned about 0.73% of RB Global worth $108,003,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. National Bank of Canada FI increased its stake in shares of RB Global by 309.6% in the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock valued at $65,014,000 after acquiring an additional 610,843 shares during the last quarter. FMR LLC increased its stake in RB Global by 60.5% in the third quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock valued at $95,057,000 after purchasing an additional 445,004 shares in the last quarter. CIBC Asset Management Inc raised its holdings in RB Global by 57.1% in the third quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after purchasing an additional 357,761 shares during the period. The Manufacturers Life Insurance Company raised its holdings in RB Global by 17.1% in the third quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock worth $196,109,000 after purchasing an additional 354,803 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of RB Global by 135.7% during the second quarter. Rhumbline Advisers now owns 480,801 shares of the business services provider’s stock worth $36,714,000 after purchasing an additional 276,843 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Trading Down 0.2 %

NYSE RBA opened at $90.21 on Thursday. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 49.03, a PEG ratio of 4.56 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 stock’s 50 day moving average price is $92.43 and its two-hundred day moving average price is $84.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Wednesday, November 27th. RB Global’s dividend payout ratio (DPR) is currently 63.04%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RBA. Royal Bank of Canada upped their price objective on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. CIBC increased their price target on RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a report on Thursday, December 12th. Robert W. Baird lifted their price objective on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, BMO Capital Markets increased their target price on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.36.

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.