Northwest & Ethical Investments L.P. Buys New Shares in RB Global, Inc. (NYSE:RBA)

Northwest & Ethical Investments L.P. acquired a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 188,583 shares of the business services provider’s stock, valued at approximately $15,179,000.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in RB Global by 25.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider’s stock worth $27,927,000 after purchasing an additional 74,809 shares in the last quarter. Virtu Financial LLC bought a new position in shares of RB Global during the 1st quarter valued at approximately $235,000. Cetera Investment Advisers grew its stake in shares of RB Global by 1,177.0% during the 1st quarter. Cetera Investment Advisers now owns 43,572 shares of the business services provider’s stock worth $3,319,000 after acquiring an additional 40,160 shares during the period. Cetera Advisors LLC grew its stake in RB Global by 24.5% in the 1st quarter. Cetera Advisors LLC now owns 7,488 shares of the business services provider’s stock valued at $570,000 after buying an additional 1,472 shares in the last quarter. Finally, Boston Partners lifted its stake in RB Global by 4.1% in the 1st quarter. Boston Partners now owns 3,029,758 shares of the business services provider’s stock worth $230,543,000 after purchasing an additional 120,469 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RBA shares. Robert W. Baird raised their target price on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Raymond James upped their target price 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. BMO Capital Markets upped their price objective on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Bank of America lifted their price target on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Royal Bank of Canada lifted their target price on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, RB Global currently has an average rating of “Moderate Buy” and an average price target of $98.36.

RB Global Price Performance

Shares of RBA traded up $0.18 during mid-day trading on Thursday, reaching $97.68. The stock had a trading volume of 612,088 shares, compared to its average volume of 1,012,306. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. RB Global, Inc. has a 12 month low of $60.84 and a 12 month high of $99.79. The business has a fifty day moving average of $86.36 and a 200 day moving average of $81.74. The firm has a market cap of $18.01 billion, a price-to-earnings ratio of 53.09, a PEG ratio of 4.73 and a beta of 0.92.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global’s dividend payout ratio (DPR) is presently 63.04%.

Insiders Place Their Bets

In related news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the sale, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,261,134.93. The trade was a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.10% of the company’s stock.

About RB Global

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.