Shell Asset Management Co. Sells 18,392 Shares of RB Global, Inc. $RBA

Shell Asset Management Co. reduced its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 67.0% during the third quarter, HoldingsChannel reports. The fund owned 9,079 shares of the business services provider’s stock after selling 18,392 shares during the quarter. Shell Asset Management Co.’s holdings in RB Global were worth $984,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. MJP Associates Inc. ADV increased its stake in shares of RB Global by 2.2% in the second quarter. MJP Associates Inc. ADV now owns 4,434 shares of the business services provider’s stock worth $471,000 after purchasing an additional 95 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after buying an additional 97 shares in the last quarter. Archer Investment Corp boosted its holdings in RB Global by 6.0% in the 2nd quarter. Archer Investment Corp now owns 1,760 shares of the business services provider’s stock worth $187,000 after buying an additional 100 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in RB Global by 12.9% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 938 shares of the business services provider’s stock valued at $102,000 after buying an additional 107 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in RB Global by 1.1% in the 2nd quarter. California State Teachers Retirement System now owns 11,693 shares of the business services provider’s stock valued at $1,242,000 after buying an additional 124 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 20,742 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the transaction, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at approximately $12,370,435. This trade represents a 16.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.28% of the company’s stock.

RB Global Stock Up 1.0%

Shares of NYSE:RBA opened at $101.95 on Tuesday. The firm has a market capitalization of $18.95 billion, a PE ratio of 48.78, a price-to-earnings-growth ratio of 1.91 and a beta of 0.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.23. RB Global, Inc. has a 52-week low of $87.87 and a 52-week high of $119.58. The firm has a fifty day moving average of $109.10 and a 200 day moving average of $107.80.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 9th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, February 9th. RB Global’s dividend payout ratio is presently 59.33%.

Wall Street Analyst Weigh In

RBA has been the topic of several recent research reports. Raymond James Financial increased their target price on 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 increased their price objective on RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. National Bank Financial upgraded RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price 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 report on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.00.

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.