ArrowMark Colorado Holdings LLC Sells 618,492 Shares of RB Global, Inc. (NYSE:RBA)

ArrowMark Colorado Holdings LLC cut its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 17.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,840,501 shares of the business services provider’s stock after selling 618,492 shares during the quarter. RB Global accounts for 2.9% of ArrowMark Colorado Holdings LLC’s holdings, making the stock its largest position. ArrowMark Colorado Holdings LLC’s holdings in RB Global were worth $228,632,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Cooke & Bieler LP raised its stake in RB Global by 3.4% during the second quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider’s stock worth $252,865,000 after acquiring an additional 109,056 shares in the last quarter. Fiera Capital Corp increased its position in RB Global by 5.7% during the 2nd quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock worth $239,881,000 after purchasing an additional 168,945 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in RB Global by 17.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock valued at $196,109,000 after purchasing an additional 354,803 shares during the last quarter. Canoe Financial LP boosted its position in RB Global by 22.0% in the third quarter. Canoe Financial LP now owns 1,418,666 shares of the business services provider’s stock valued at $113,900,000 after buying an additional 255,484 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of RB Global by 142.9% during the second quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock worth $102,154,000 after buying an additional 787,042 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

RB Global Stock Up 0.1 %

Shares of RB Global stock opened at $97.76 on Monday. The firm has a market cap of $18.03 billion, a price-to-earnings ratio of 53.13, a PEG ratio of 4.70 and a beta of 0.92. RB Global, Inc. has a one year low of $60.84 and a one year high of $99.79. The stock’s 50-day moving average is $86.88 and its 200 day moving average is $82.07. 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 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 issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.19%. RB Global’s dividend payout ratio is currently 63.04%.

Insiders Place Their Bets

In related news, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were 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 approximately $7,166,263.23. This trade represents a 17.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.32% of the company’s stock.

Wall Street Analyst Weigh In

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

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.