RB Global, Inc. (NYSE:RBA) Shares Purchased by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC boosted its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 118,009 shares of the business services provider’s stock after purchasing an additional 535 shares during the period. Horizon Kinetics Asset Management LLC owned about 0.06% of RB Global worth $9,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in RBA. Dynamic Technology Lab Private Ltd purchased a new position in shares of RB Global during the 3rd quarter valued at approximately $1,362,000. Cerity Partners LLC grew its position in RB Global by 89.7% during the third quarter. Cerity Partners LLC now owns 8,844 shares of the business services provider’s stock valued at $712,000 after buying an additional 4,182 shares during the period. Citigroup Inc. increased its holdings in RB Global by 7.7% in the third quarter. Citigroup Inc. now owns 51,792 shares of the business services provider’s stock valued at $4,173,000 after buying an additional 3,682 shares in the last quarter. Banco Santander S.A. acquired a new position in shares of RB Global in the third quarter worth about $618,000. Finally, Intech Investment Management LLC boosted its stake in shares of RB Global by 16.8% during the 3rd quarter. Intech Investment Management LLC now owns 21,413 shares of the business services provider’s stock worth $1,725,000 after acquiring an additional 3,081 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Trading Up 0.2 %

Shares of RBA opened at $97.99 on Monday. The firm’s fifty day moving average is $85.55 and its two-hundred day moving average is $81.29. The stock has a market cap of $18.07 billion, a PE ratio of 53.16, a price-to-earnings-growth ratio of 4.70 and a beta of 0.92. 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 $60.84 and a 52-week high of $97.99.

RB Global Dividend Announcement

The firm 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 is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.18%. RB Global’s payout ratio is 63.04%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other RB Global news, 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 value of $1,505,569.77. Following the completion of the sale, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,261,134.93. This represents a 17.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.10% 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.