Intech Investment Management LLC Acquires 3,081 Shares of RB Global, Inc. (NYSE:RBA)

Intech Investment Management LLC boosted its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 16.8% in the third quarter, HoldingsChannel reports. The firm owned 21,413 shares of the business services provider’s stock after purchasing an additional 3,081 shares during the period. Intech Investment Management LLC’s holdings in RB Global were worth $1,725,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV increased its stake 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 valued at $34,000 after acquiring an additional 165 shares in the last quarter. UMB Bank n.a. increased its stake 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 valued at $47,000 after purchasing an additional 388 shares in the last quarter. Quarry LP acquired a new position in shares of RB Global during the second quarter valued at about $53,000. Covestor Ltd boosted its position in shares of RB Global by 533.1% during the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock worth $65,000 after purchasing an additional 677 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of RB Global by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after buying an additional 210 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction on Monday, September 9th. The stock was sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the sale, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,166,263.23. The trade was a 17.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.10% of the company’s stock.

RB Global Stock Performance

NYSE RBA opened at $98.49 on Tuesday. The company has a fifty day moving average price of $85.55 and a 200-day moving average price of $81.29. The firm has a market cap of $18.16 billion, a price-to-earnings ratio of 53.53, a PEG ratio of 4.70 and a beta of 0.92. 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 1 year low of $60.84 and a 1 year high of $99.79.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 yield of 1.18%. RB Global’s dividend payout ratio (DPR) is 63.04%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Royal Bank of Canada upped their price target on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Bank of America increased their target price on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th. Raymond James lifted their price target on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Robert W. Baird upped their price objective on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, 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 report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, RB Global presently has an average rating of “Moderate Buy” and a consensus target price of $98.36.

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.