RB Global, Inc. (NYSE:RBA) Shares Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC boosted its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 379.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,011 shares of the business services provider’s stock after purchasing an additional 800 shares during the quarter. Wolverine Asset Management LLC’s holdings in RB Global were worth $81,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in RBA. Vanguard Group Inc. increased its stake in shares of RB Global by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock valued at $1,827,528,000 after acquiring an additional 1,153,497 shares during the last quarter. Bank of New York Mellon Corp raised its stake in RB Global by 142.9% during the second 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 during the period. CIBC Asset Management Inc raised its stake in 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 purchasing an additional 594,941 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of RB Global by 3,387.9% in the 2nd quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock valued at $46,712,000 after purchasing an additional 594,199 shares during the last quarter. Finally, Retirement Systems of Alabama purchased a new stake in shares of RB Global during the 2nd quarter valued at $21,724,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Trading Up 1.3 %

RBA opened at $92.36 on Friday. The firm has a market capitalization of $17.03 billion, a P/E ratio of 50.20, a P/E/G ratio of 4.55 and a beta of 0.92. The firm’s 50 day moving average is $84.30 and its 200-day moving average is $80.21. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. RB Global, Inc. has a 52-week low of $59.11 and a 52-week high of $94.85.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.26%. RB Global’s dividend payout ratio is currently 63.04%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at RB Global

In other RB Global news, CRO James J. Jeter sold 3,000 shares of the stock in a transaction 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 transaction, the executive now directly owns 20,267 shares in the company, valued at $1,733,841.85. This represents a 12.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Darren Jeffrey Watt sold 2,915 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $82.80, for a total transaction of $241,362.00. Following the completion of the sale, the insider now directly owns 19,271 shares of the company’s stock, valued at $1,595,638.80. The trade was a 13.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,681 shares of company stock valued at $3,489,480 in the last ninety days. Insiders own 4.32% of the company’s stock.

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.