EverSource Wealth Advisors LLC Cuts Stock Position in RB Global, Inc. (NYSE:RBA)

EverSource Wealth Advisors LLC trimmed its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,032 shares of the business services provider’s stock after selling 131 shares during the period. EverSource Wealth Advisors LLC’s holdings in RB Global were worth $5,395,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of RB Global by 142.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock worth $102,154,000 after purchasing an additional 787,042 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of RB Global by 1,879.0% during the second quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock worth $47,761,000 after buying an additional 594,941 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of RB Global by 3,387.9% during the 2nd 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. Retirement Systems of Alabama acquired a new stake in RB Global in the 2nd quarter worth about $21,724,000. Finally, Rhumbline Advisers grew its holdings in RB Global by 135.7% in the second quarter. Rhumbline Advisers now owns 480,801 shares of the business services provider’s stock valued at $36,714,000 after purchasing an additional 276,843 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RBA. Raymond James boosted their price objective on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Bank of America increased their price objective on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. BMO Capital Markets boosted their price target on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Royal Bank of Canada increased their price objective on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Robert W. Baird boosted their price target on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $98.36.

RB Global Price Performance

Shares of RB Global stock traded down $0.42 during trading on Wednesday, hitting $93.18. The stock had a trading volume of 44,940 shares, compared to its average volume of 1,013,679. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. The business has a fifty day moving average of $84.91 and a two-hundred day moving average of $80.78. RB Global, Inc. has a fifty-two week low of $60.84 and a fifty-two week high of $94.85. The firm has a market cap of $17.18 billion, a P/E ratio of 50.87, a PEG ratio of 4.55 and a beta of 0.92.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global’s dividend payout ratio is presently 63.04%.

Insider Buying and Selling

In related news, CRO James J. Jeter sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total transaction of $256,650.00. Following the completion of the sale, the executive now directly owns 20,267 shares in the company, valued at approximately $1,733,841.85. This trade represents a 12.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,261,134.93. This trade represents a 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,766 shares of company stock valued at $3,248,118. 4.10% 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.