12th Street Asset Management Company LLC Reduces Stock Holdings in RB Global, Inc. $RBA

12th Street Asset Management Company LLC cut its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 34.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 118,123 shares of the business services provider’s stock after selling 63,239 shares during the period. RB Global makes up approximately 2.2% of 12th Street Asset Management Company LLC’s holdings, making the stock its 18th largest holding. 12th Street Asset Management Company LLC’s holdings in RB Global were worth $12,800,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RBA. AQR Capital Management LLC lifted its position in shares of RB Global by 94.3% during the first quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock worth $1,031,000 after purchasing an additional 5,090 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in RB Global by 53.1% in the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after buying an additional 204 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in RB Global by 857.9% in the 1st quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock worth $375,000 after buying an additional 3,346 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in RB Global by 35.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock valued at $33,940,000 after buying an additional 88,813 shares during the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of RB Global during the first quarter valued at about $4,103,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on RBA shares. National Bank Financial upgraded RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price target on the stock in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RB Global in a research report on Thursday, January 22nd. Raymond James Financial increased their target price on RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Bank of America cut 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $126.00.

RB Global Stock Performance

Shares of NYSE RBA opened at $100.81 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $109.01 and its two-hundred day moving average price is $107.90. RB Global, Inc. has a 52-week low of $87.87 and a 52-week high of $119.58. The stock has a market capitalization of $18.74 billion, a P/E ratio of 48.23, a P/E/G ratio of 2.13 and a beta of 0.54.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 9th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. RB Global’s dividend payout ratio (DPR) is 59.33%.

Insider Transactions at RB Global

In related news, CEO James Francis Kessler sold 20,742 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 107,569 shares in the company, valued at $12,370,435. This represents a 16.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.32% of the stock is owned by corporate insiders.

About RB Global

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.