Icon Wealth Advisors LLC Reduces Holdings in RB Global, Inc. (NYSE:RBA)

Icon Wealth Advisors LLC lowered its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,261 shares of the business services provider’s stock after selling 309 shares during the quarter. Icon Wealth Advisors LLC’s holdings in RB Global were worth $584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Weil Company Inc. grew its holdings in shares of RB Global by 1.2% during the 3rd quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock worth $912,000 after acquiring an additional 132 shares during the period. Advisor OS LLC lifted its position in RB Global by 1.9% during the second quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock valued at $638,000 after buying an additional 156 shares during the period. Blue Trust Inc. boosted its holdings in shares of RB Global by 11.9% during the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock valued at $113,000 after buying an additional 157 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of RB Global by 58.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after buying an additional 165 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of RB Global by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after acquiring an additional 210 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RBA has been the topic of several research reports. Royal Bank of Canada boosted 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. BMO Capital Markets upped their price target on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Bank of America raised their price objective on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Robert W. Baird boosted their target price on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Raymond James raised their price target on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. 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.com, RB Global has an average rating of “Moderate Buy” and an average price target of $98.36.

RB Global Stock Up 2.6 %

RBA stock opened at $97.81 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. RB Global, Inc. has a 1-year low of $60.84 and a 1-year high of $97.83. The stock has a market capitalization of $18.04 billion, a P/E ratio of 53.16, a P/E/G ratio of 4.58 and a beta of 0.92. The business has a fifty day moving average price of $85.55 and a 200-day moving average price of $81.16.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 yield of 1.19%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global’s dividend payout ratio is currently 63.04%.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $84.19, for a total value of $1,505,569.77. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 4.32% of the company’s stock.

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.