QRG Capital Management Inc. Acquires New Position in RB Global, Inc. (NYSE:RBA)

QRG Capital Management Inc. bought a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 2,538 shares of the business services provider’s stock, valued at approximately $204,000.

Other large investors have also modified their holdings of the company. SG Americas Securities LLC lifted its holdings in RB Global by 365.3% in the first quarter. SG Americas Securities LLC now owns 18,069 shares of the business services provider’s stock valued at $1,376,000 after acquiring an additional 14,186 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in RB Global by 4.9% during the first quarter. Orion Portfolio Solutions LLC now owns 15,359 shares of the business services provider’s stock worth $1,170,000 after buying an additional 713 shares in the last quarter. Intech Investment Management LLC acquired a new position in RB Global during the first quarter worth about $613,000. Vanguard Group Inc. grew its position in RB Global by 5.1% during the first quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock worth $1,827,528,000 after buying an additional 1,153,497 shares during the period. Finally, Hillsdale Investment Management Inc. increased its holdings in RB Global by 29.4% in the first quarter. Hillsdale Investment Management Inc. now owns 132,100 shares of the business services provider’s stock valued at $10,066,000 after buying an additional 30,000 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

RB Global Trading Down 0.9 %

Shares of RBA stock opened at $92.87 on Wednesday. The company has a market capitalization of $17.13 billion, a price-to-earnings ratio of 50.47, a PEG ratio of 5.99 and a beta of 0.92. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $83.98 and a 200 day moving average price of $80.05. RB Global, Inc. has a twelve month low of $58.85 and a twelve month high of $94.85.

RB Global Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global’s payout ratio is 63.04%.

Insider Activity at RB Global

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $83.09, for a total value of $1,485,898.47. Following the completion of the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at approximately $7,166,263.23. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $83.09, for a total value of $1,485,898.47. Following the sale, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at approximately $7,166,263.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Darren Jeffrey Watt sold 2,915 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the transaction, the insider now directly owns 19,271 shares of the company’s stock, valued at approximately $1,595,638.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,681 shares of company stock valued at $3,489,480. Company insiders own 4.32% 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.