RB Global, Inc. $RBA Shares Sold by 12th Street Asset Management Company LLC

12th Street Asset Management Company LLC lowered its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 34.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 118,123 shares of the business services provider’s stock after selling 63,239 shares during the period. RB Global comprises approximately 2.2% of 12th Street Asset Management Company LLC’s holdings, making the stock its 18th largest position. 12th Street Asset Management Company LLC owned about 0.06% of RB Global worth $12,800,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of RB Global by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 25,205,500 shares of the business services provider’s stock valued at $2,676,926,000 after buying an additional 289,094 shares during the period. Massachusetts Financial Services Co. MA raised its position in RB Global by 7.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock worth $1,162,370,000 after acquiring an additional 705,423 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in RB Global by 10.3% in the third quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock valued at $781,862,000 after acquiring an additional 672,450 shares during the period. Geode Capital Management LLC boosted its position in shares of RB Global by 7.5% during the 2nd quarter. Geode Capital Management LLC now owns 4,552,803 shares of the business services provider’s stock worth $482,383,000 after purchasing an additional 317,781 shares in the last quarter. Finally, Fiera Capital Corp grew its stake in shares of RB Global by 2.7% during the 2nd quarter. Fiera Capital Corp now owns 3,876,595 shares of the business services provider’s stock worth $411,586,000 after purchasing an additional 102,681 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Activity

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

RB Global Stock Down 11.5%

Shares of NYSE:RBA opened at $100.81 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. The firm has a market cap of $18.74 billion, a price-to-earnings ratio of 48.23, a PEG ratio of 2.13 and a beta of 0.54. The stock’s 50-day moving average price is $109.01 and its two-hundred day moving average price is $107.90. RB Global, Inc. has a 12-month low of $87.87 and a 12-month high of $119.58.

RB Global Dividend Announcement

The business also recently declared 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. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, February 9th. RB Global’s dividend payout ratio (DPR) is 59.33%.

Analysts Set New Price Targets

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

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.