Envestnet Asset Management Inc. Has $34.18 Million Stock Holdings in RB Global, Inc. $RBA

Envestnet Asset Management Inc. trimmed its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 315,432 shares of the business services provider’s stock after selling 17,222 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.17% of RB Global worth $34,180,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RBA. Spire Wealth Management grew its stake in shares of RB Global by 1,090.6% in the third quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock valued at $41,000 after buying an additional 349 shares in the last quarter. State of Wyoming bought a new position in shares of RB Global in the 2nd quarter valued at about $46,000. Whipplewood Advisors LLC increased its stake in shares of RB Global by 42.9% during the 2nd quarter. Whipplewood Advisors LLC now owns 456 shares of the business services provider’s stock worth $48,000 after purchasing an additional 137 shares during the last quarter. SouthState Corp increased its stake in shares of RB Global by 75.6% during the 2nd quarter. SouthState Corp now owns 453 shares of the business services provider’s stock worth $48,000 after purchasing an additional 195 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 97 shares during the period. Institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

RBA has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of RB Global in a research report on Thursday, January 22nd. Bank of America decreased their target price on RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Royal Bank Of Canada raised their price target on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, National Bank Financial raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective on the stock in a research report on Monday, November 24th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.00.

RB Global Stock Down 4.5%

RBA stock opened at $113.73 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.15. The stock has a market capitalization of $21.14 billion, a price-to-earnings ratio of 54.41, a PEG ratio of 2.23 and a beta of 0.54. The business’s fifty day moving average price is $108.95 and its two-hundred day moving average price is $107.95. RB Global, Inc. has a fifty-two week low of $87.87 and a fifty-two week high of $119.58.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. RB Global’s payout ratio is currently 59.33%.

Insider Transactions at RB Global

In other RB Global news, CEO James Francis Kessler sold 20,742 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the transaction, the chief executive officer owned 107,569 shares in the company, valued at $12,370,435. This represents a 16.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.32% of the stock is owned by corporate 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.