NFJ Investment Group LLC Sells 35,163 Shares of RB Global, Inc. (NYSE:RBA)

NFJ Investment Group LLC lowered its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 376,894 shares of the business services provider’s stock after selling 35,163 shares during the period. NFJ Investment Group LLC’s holdings in RB Global were worth $30,336,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV grew its position in shares of RB Global by 58.7% during 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 during the period. UMB Bank n.a. increased its position 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 worth $47,000 after buying an additional 388 shares during the last quarter. Quarry LP purchased a new position in shares of RB Global during the 2nd quarter valued at $53,000. Covestor Ltd grew its stake 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 acquiring an additional 677 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in RB Global by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after acquiring an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Trading Down 0.1 %

Shares of NYSE:RBA traded down $0.12 during trading on Tuesday, reaching $97.02. 48,854 shares of the company traded hands, compared to its average volume of 1,006,751. 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 52-week low of $60.84 and a 52-week high of $99.79. The business’s fifty day moving average is $87.13 and its 200-day moving average is $82.23. The firm has a market capitalization of $17.89 billion, a price-to-earnings ratio of 52.83, a P/E/G ratio of 4.70 and a beta of 0.95.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Wednesday, November 27th. RB Global’s dividend payout ratio (DPR) is presently 63.04%.

Insider Buying and Selling at RB Global

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. 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 report on Monday, August 26th. Raymond James lifted their price target on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Robert W. Baird increased their price objective on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. BMO Capital Markets boosted their target price on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada upped their target price on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note 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.com, RB Global has an average rating of “Moderate Buy” and an average target price of $98.36.

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.