Oppenheimer Asset Management Inc. Sells 24,239 Shares of RB Global, Inc. $RBA

Oppenheimer Asset Management Inc. cut its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 14.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 143,828 shares of the business services provider’s stock after selling 24,239 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in RB Global were worth $15,585,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of RB Global in the second quarter worth $255,798,000. JARISLOWSKY FRASER Ltd bought a new position in RB Global in the third quarter valued at approximately $195,640,000. Massachusetts Financial Services Co. MA increased its position in shares of RB Global by 7.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock worth $1,162,370,000 after purchasing an additional 705,423 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of RB Global by 10.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock valued at $781,862,000 after buying an additional 672,450 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in shares of RB Global by 85.1% in the second quarter. TD Asset Management Inc now owns 938,902 shares of the business services provider’s stock valued at $99,546,000 after buying an additional 431,649 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 20,742 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total value of $2,385,330.00. Following the completion of the transaction, the chief executive officer directly owned 107,569 shares in the company, valued at approximately $12,370,435. The trade was a 16.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deborah Stein acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average cost of $101.26 per share, for a total transaction of $101,260.00. Following the completion of the purchase, the director directly owned 1,000 shares of the company’s stock, valued at $101,260. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.28% of the stock is currently owned by company insiders.

RB Global Stock Performance

Shares of NYSE:RBA opened at $117.91 on Tuesday. RB Global, Inc. has a 12-month low of $87.87 and a 12-month high of $119.58. The company’s 50 day moving average price is $108.22 and its two-hundred day moving average price is $107.84. The firm has a market cap of $21.92 billion, a PE ratio of 56.42, a PEG ratio of 2.21 and a beta of 0.54. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 0.46.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 9th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, February 9th. RB Global’s dividend payout ratio is presently 59.33%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. National Bank Financial upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price target for the company in a research note on Monday, November 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of RB Global in a research note on Thursday, January 22nd. Raymond James Financial lifted their price objective on shares of RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada raised their target price on shares of RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, Bank of America lowered their price target on shares of RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.13.

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.