Swiss National Bank Has $44.78 Million Stock Position in RB Global, Inc. (NYSE:RBA)

Swiss National Bank grew its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 555,543 shares of the business services provider’s stock after acquiring an additional 6,400 shares during the period. Swiss National Bank’s holdings in RB Global were worth $44,783,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in shares of RB Global by 142.9% in the second quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock valued at $102,154,000 after buying an additional 787,042 shares during the period. CIBC Asset Management Inc grew its stake in shares of RB Global by 1,879.0% in the second quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock worth $47,761,000 after purchasing an additional 594,941 shares during the last quarter. Principal Financial Group Inc. increased its holdings in RB Global by 3,387.9% in the second quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock valued at $46,712,000 after purchasing an additional 594,199 shares during the period. Retirement Systems of Alabama acquired a new position in RB Global during the 2nd quarter worth about $21,724,000. Finally, Rhumbline Advisers lifted its holdings in RB Global by 135.7% during the 2nd quarter. Rhumbline Advisers now owns 480,801 shares of the business services provider’s stock worth $36,714,000 after buying an additional 276,843 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RBA shares. Robert W. Baird raised their price objective on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. BMO Capital Markets boosted 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. 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 report on Thursday, August 8th. Royal Bank of Canada boosted their target price on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, 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 report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.36.

RB Global Trading Up 0.1 %

NYSE:RBA opened at $93.74 on Thursday. RB Global, Inc. has a 12 month low of $60.84 and a 12 month high of $94.85. 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 stock has a market capitalization of $17.29 billion, a price-to-earnings ratio of 50.95, a PEG ratio of 4.55 and a beta of 0.92. The firm has a fifty day simple moving average of $85.09 and a two-hundred day simple moving average of $80.88.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Wednesday, November 27th. RB Global’s dividend payout ratio (DPR) is currently 63.04%.

Insider Buying and Selling at RB Global

In other RB Global news, CRO James J. Jeter sold 3,000 shares of the business’s stock in a transaction 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 in the company, valued at approximately $1,733,841.85. The trade was a 12.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the completion of the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,261,134.93. This trade represents a 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,766 shares of company stock valued at $3,248,118. Company 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.