Ashton Thomas Private Wealth LLC Reduces Holdings in RB Global, Inc. (NYSE:RBA)

Ashton Thomas Private Wealth LLC lowered its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,826 shares of the business services provider’s stock after selling 1,140 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in RB Global were worth $1,757,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its stake in shares of RB Global by 58.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after acquiring an additional 165 shares in the last quarter. UMB Bank n.a. raised its position 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 purchasing an additional 388 shares in the last quarter. Quarry LP purchased a new position in shares of RB Global during the 2nd quarter valued at approximately $53,000. Covestor Ltd grew 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 buying an additional 677 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position 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 worth $64,000 after buying an additional 210 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

RB Global Trading Down 0.9 %

Shares of NYSE RBA opened at $92.87 on Wednesday. RB Global, Inc. has a 12-month low of $58.85 and a 12-month high of $94.85. The company has a market cap of $17.13 billion, a price-to-earnings ratio of 50.47, a price-to-earnings-growth ratio of 6.11 and a beta of 0.92. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The stock’s 50 day simple moving average is $83.98 and its 200 day simple moving average is $80.05.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 1.25%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global’s payout ratio is 63.04%.

Insider Activity

In related news, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $82.80, for a total value of $241,362.00. Following the sale, the insider now owns 19,271 shares of the company’s stock, valued at $1,595,638.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $83.09, for a total value of $1,485,898.47. Following the completion of the transaction, the chief executive officer now owns 86,247 shares of the company’s stock, valued at approximately $7,166,263.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Darren Jeffrey Watt sold 2,915 shares of RB Global stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the sale, the insider now owns 19,271 shares in the company, valued at approximately $1,595,638.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,681 shares of company stock valued at $3,489,480. 4.10% of the stock is currently owned by company insiders.

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.