RB Global, Inc. (NYSE:RBA) Stock Position Raised by Wolverine Asset Management LLC

Wolverine Asset Management LLC boosted its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 379.1% during the third quarter, HoldingsChannel.com reports. The fund owned 1,011 shares of the business services provider’s stock after acquiring an additional 800 shares during the period. Wolverine Asset Management LLC’s holdings in RB Global were worth $81,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its holdings in shares of 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 purchasing an additional 165 shares during the last quarter. UMB Bank n.a. increased its position in RB Global by 196.0% in the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after buying an additional 388 shares during the period. Quarry LP bought a new stake in RB Global in the second quarter valued at $53,000. Nisa Investment Advisors LLC boosted its holdings in shares of RB Global by 33.5% during the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 210 shares during the period. Finally, Covestor Ltd grew its position in shares of RB Global by 533.1% during the third quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock worth $65,000 after acquiring an additional 677 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

RB Global Stock Performance

NYSE:RBA opened at $92.36 on Friday. The company has a 50-day moving average of $84.30 and a 200-day moving average of $80.21. The firm has a market cap of $17.03 billion, a price-to-earnings ratio of 50.20, a price-to-earnings-growth ratio of 4.55 and a beta of 0.92. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. RB Global, Inc. has a twelve month low of $59.11 and a twelve month high of $94.85.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.26%. RB Global’s dividend payout ratio (DPR) is 63.04%.

Insider Buying and Selling

In other news, insider Darren Jeffrey Watt sold 2,915 shares of RB Global stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total value of $241,362.00. Following the transaction, the insider now directly owns 19,271 shares of the company’s stock, valued at $1,595,638.80. This trade represents a 13.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO James J. Jeter sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total transaction of $256,650.00. Following the completion of the sale, the executive now owns 20,267 shares of the company’s stock, valued at approximately $1,733,841.85. This trade represents a 12.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,681 shares of company stock valued at $3,489,480. 4.32% of the stock is 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.