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

Horizon Kinetics Asset Management LLC boosted its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.5% during the third quarter, HoldingsChannel reports. The fund owned 118,009 shares of the business services provider’s stock after buying an additional 535 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in RB Global were worth $9,499,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $83.09, for a total value of $1,485,898.47. Following the transaction, the chief executive officer now owns 86,247 shares of the company’s stock, valued at $7,166,263.23. This represents a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RBA has been the subject of several research reports. BMO Capital Markets lifted their target price on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Robert W. Baird lifted their price objective on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Royal Bank of Canada increased their target price on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Bank of America raised their target price on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. Finally, Raymond James boosted their price target 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. Two investment 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 an average rating of “Moderate Buy” and a consensus price target of $98.36.

RB Global Price Performance

RBA stock opened at $97.99 on Monday. The business’s 50-day moving average is $85.55 and its two-hundred day moving average is $81.29. 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 firm has a market capitalization of $18.07 billion, a P/E ratio of 53.16, a P/E/G ratio of 4.70 and a beta of 0.92. RB Global, Inc. has a 1 year low of $60.84 and a 1 year high of $97.99.

RB Global Dividend Announcement

The company also recently announced 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. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 annualized dividend and a yield of 1.18%. RB Global’s dividend payout ratio (DPR) is 63.04%.

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.