RB Global, Inc. (NYSE:RBA) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC cut its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 17.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,840,501 shares of the business services provider’s stock after selling 618,492 shares during the period. RB Global accounts for approximately 2.9% of ArrowMark Colorado Holdings LLC’s portfolio, making the stock its biggest holding. ArrowMark Colorado Holdings LLC owned 1.54% of RB Global worth $228,632,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its stake in RB Global by 142.9% during the second quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock valued at $102,154,000 after acquiring an additional 787,042 shares during the period. CIBC Asset Management Inc raised its stake in shares of RB Global by 1,879.0% in the second quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock valued at $47,761,000 after purchasing an additional 594,941 shares in the last quarter. Principal Financial Group Inc. lifted its position in RB Global by 3,387.9% in the second quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock worth $46,712,000 after purchasing an additional 594,199 shares during the period. FMR LLC boosted its stake in RB Global by 60.5% during the third quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock worth $95,057,000 after buying an additional 445,004 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in RB Global by 17.1% in the third quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock valued at $196,109,000 after acquiring an additional 354,803 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Performance

Shares of RBA stock opened at $97.76 on Monday. The stock has a market cap of $18.03 billion, a P/E ratio of 53.13, a P/E/G ratio of 4.70 and a beta of 0.92. The company has a fifty day moving average price of $86.88 and a two-hundred day moving average price of $82.07. RB Global, Inc. has a one year low of $60.84 and a one year high of $99.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a 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%.

Analyst Ratings Changes

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

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,261,134.93. This trade represents 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 this link. 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.