Champlain Investment Partners LLC Decreases Holdings in RB Global, Inc. (NYSE:RBA)

Champlain Investment Partners LLC reduced its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 10.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,013,742 shares of the business services provider’s stock after selling 119,827 shares during the period. Champlain Investment Partners LLC’s holdings in RB Global were worth $81,596,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its stake in shares of RB Global by 58.7% during the second 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 period. UMB Bank n.a. lifted its holdings in RB Global by 196.0% in the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after buying an additional 388 shares in the last quarter. Quarry LP purchased a new position in RB Global in the 2nd quarter valued at about $53,000. Nisa Investment Advisors LLC grew its stake in shares of RB Global by 33.5% during the second 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 in the last quarter. Finally, Covestor Ltd increased its position in shares of RB Global by 533.1% during the third quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock worth $65,000 after acquiring an additional 677 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RBA. BMO Capital Markets lifted 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 upped their price target on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. Robert W. Baird boosted their target price on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Royal Bank of Canada increased their price target 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. Finally, Raymond James boosted their price objective on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.36.

Insider Buying and Selling at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the completion of the sale, the chief executive officer now owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. This trade represents a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.32% of the company’s stock.

RB Global Price Performance

NYSE RBA opened at $97.81 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. RB Global, Inc. has a 1 year low of $60.84 and a 1 year high of $97.83. The company has a market cap of $18.04 billion, a PE ratio of 53.16, a PEG ratio of 4.58 and a beta of 0.92. The stock’s 50-day moving average price is $85.30 and its two-hundred day moving average price is $80.98.

RB Global Announces Dividend

The firm 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 dividend of $0.29 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.19%. RB Global’s payout ratio is presently 63.04%.

RB Global Company 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.