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

Icon Wealth Advisors LLC trimmed its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 7,261 shares of the business services provider’s stock after selling 309 shares during the period. 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).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV grew its holdings in RB Global by 58.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 165 shares during the period. UMB Bank n.a. grew its stake in shares of RB Global by 196.0% during the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 388 shares during the period. Quarry LP purchased a new stake in RB Global in the 2nd quarter worth approximately $53,000. Covestor Ltd raised its stake in RB Global by 533.1% during the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock worth $65,000 after acquiring an additional 677 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in RB Global by 33.5% during the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 210 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the transaction, the chief executive officer now owns 86,247 shares in the company, valued at $7,261,134.93. This trade represents a 17.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

RB Global Stock Up 2.6 %

Shares of RBA opened at $97.81 on Friday. RB Global, Inc. has a 1 year low of $60.84 and a 1 year high of $97.83. The company’s 50-day simple moving average is $85.55 and its 200-day simple moving average is $81.16. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. The stock has a market capitalization of $18.04 billion, a PE ratio of 53.16, a P/E/G ratio of 4.58 and a beta of 0.92.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Wednesday, November 27th. RB Global’s dividend payout ratio (DPR) is 63.04%.

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.