RB Global, Inc. (NYSE:RBA) Stake Lowered by MetLife Investment Management LLC

MetLife Investment Management LLC decreased its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 95,211 shares of the business services provider’s stock after selling 1,521 shares during the period. MetLife Investment Management LLC’s holdings in RB Global were worth $7,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV lifted its stake in RB Global by 58.7% in the second 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 during the last quarter. UMB Bank n.a. grew its position in shares of RB Global by 196.0% during the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after acquiring an additional 388 shares during the last quarter. Quarry LP acquired a new stake in shares of RB Global in the 2nd quarter worth about $53,000. Covestor Ltd lifted its position in RB Global by 533.1% in the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 677 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in RB Global by 33.5% during the 2nd 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 during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

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

RB Global Price Performance

Shares of NYSE RBA opened at $97.76 on Friday. RB Global, Inc. has a twelve month low of $60.84 and a twelve month high of $99.79. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average of $86.61 and a two-hundred day moving average of $81.85. The company has a market capitalization of $18.03 billion, a price-to-earnings ratio of 53.13, a PEG ratio of 4.69 and a beta of 0.92.

RB Global Dividend Announcement

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

Insider Activity

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at approximately $7,166,263.23. The trade was a 17.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.32% of the stock is currently owned by company insiders.

RB Global 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.