RB Global, Inc. (NYSE:RBA) Shares Bought by Glenmede Trust Co. NA

Glenmede Trust Co. NA raised its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 37.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,292 shares of the business services provider’s stock after purchasing an additional 1,178 shares during the quarter. Glenmede Trust Co. NA’s holdings in RB Global were worth $345,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its holdings in 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 purchasing an additional 165 shares during the last quarter. UMB Bank n.a. raised its stake in shares of RB Global by 196.0% in the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 388 shares during the period. Quarry LP purchased a new stake in shares of RB Global in the 2nd quarter valued at approximately $53,000. Nisa Investment Advisors LLC raised 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 acquiring an additional 210 shares during the period. Finally, Covestor Ltd raised its stake in shares of RB Global by 533.1% in the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 677 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at RB Global

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the sale, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. This represents a 17.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 4.10% of the company’s stock.

RB Global Price Performance

Shares of RBA opened at $98.22 on Thursday. RB Global, Inc. has a fifty-two week low of $60.84 and a fifty-two week high of $99.79. The firm’s 50 day moving average price is $87.72 and its 200 day moving average price is $82.50. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. The company has a market cap of $18.11 billion, a P/E ratio of 53.38, a PEG ratio of 4.67 and a beta of 0.95.

RB Global Dividend Announcement

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 given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Wednesday, November 27th. RB Global’s dividend payout ratio is presently 63.04%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RBA. Raymond James boosted their price target 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. Bank of America boosted their price target 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. Royal Bank of Canada boosted their price target on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Robert W. Baird upped their target price on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, BMO Capital Markets upped their target price on shares of RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note 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. According to MarketBeat.com, RB Global presently has an average rating of “Moderate Buy” and an average price target 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.