Wealth Enhancement Advisory Services LLC Grows Position in RB Global, Inc. (NYSE:RBA)

Wealth Enhancement Advisory Services LLC grew its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,131 shares of the business services provider’s stock after acquiring an additional 273 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in RB Global were worth $333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC boosted its holdings in RB Global by 365.3% during the first quarter. SG Americas Securities LLC now owns 18,069 shares of the business services provider’s stock worth $1,376,000 after purchasing an additional 14,186 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of RB Global by 4.9% in the first quarter. Orion Portfolio Solutions LLC now owns 15,359 shares of the business services provider’s stock valued at $1,170,000 after acquiring an additional 713 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of RB Global during the first quarter valued at approximately $613,000. Vanguard Group Inc. lifted its holdings in RB Global by 5.1% during the first quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock worth $1,827,528,000 after acquiring an additional 1,153,497 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its position in RB Global by 29.4% in the first quarter. Hillsdale Investment Management Inc. now owns 132,100 shares of the business services provider’s stock worth $10,066,000 after purchasing an additional 30,000 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Robert W. Baird lifted their target price on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Royal Bank of Canada boosted their target price on shares of RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Bank of America raised 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. Raymond James upped their price objective on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, BMO Capital Markets started coverage on RB Global in a report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.93.

RB Global Stock Up 2.8 %

RB Global stock opened at $91.86 on Monday. The firm has a 50 day simple moving average of $83.66 and a 200 day simple moving average of $79.77. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. RB Global, Inc. has a 1-year low of $58.85 and a 1-year high of $93.18. The firm has a market capitalization of $16.94 billion, a price-to-earnings ratio of 49.92, a P/E/G ratio of 5.99 and a beta of 0.92.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Wednesday, November 27th. RB Global’s dividend payout ratio (DPR) is presently 63.04%.

Insider Activity at RB Global

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction dated 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 in the company, valued at $7,166,263.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO James J. Jeter sold 2,920 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the transaction, the executive now directly owns 23,267 shares of the company’s stock, valued at approximately $1,837,162.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,601 shares of company stock worth $3,720,043. 4.32% of the stock is 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.