QRG Capital Management Inc. Invests $204,000 in RB Global, Inc. (NYSE:RBA)

QRG Capital Management Inc. bought a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the third quarter, Holdings Channel reports. The firm bought 2,538 shares of the business services provider’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. SG Americas Securities LLC lifted its position in RB Global by 365.3% during the first quarter. SG Americas Securities LLC now owns 18,069 shares of the business services provider’s stock valued at $1,376,000 after buying an additional 14,186 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of RB Global by 4.9% during the 1st quarter. Orion Portfolio Solutions LLC now owns 15,359 shares of the business services provider’s stock valued at $1,170,000 after acquiring an additional 713 shares in the last quarter. Intech Investment Management LLC purchased a new stake in RB Global during the 1st quarter worth $613,000. Vanguard Group Inc. increased its holdings in RB Global by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock valued at $1,827,528,000 after purchasing an additional 1,153,497 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in RB Global by 29.4% in the first quarter. Hillsdale Investment Management Inc. now owns 132,100 shares of the business services provider’s stock valued at $10,066,000 after purchasing an additional 30,000 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Trading Down 0.9 %

NYSE RBA opened at $92.87 on Wednesday. The company has a market capitalization of $17.13 billion, a price-to-earnings ratio of 50.47, a price-to-earnings-growth ratio of 5.99 and a beta of 0.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20. RB Global, Inc. has a 12 month low of $58.85 and a 12 month high of $94.85. The company’s fifty day moving average price is $83.98 and its two-hundred day moving average price is $80.05.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.25%. The ex-dividend date is Wednesday, November 27th. RB Global’s dividend payout ratio is currently 63.04%.

Wall Street Analysts Forecast Growth

RBA has been the subject of a number of recent research reports. Robert W. Baird increased their target price on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday. Bank of America increased their price objective on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. 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 research report on Monday. Raymond James lifted their price target on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada boosted their price objective on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, RB Global currently has an average rating of “Moderate Buy” and a consensus price target of $98.36.

Insider Buying and Selling at RB Global

In other news, insider Darren Jeffrey Watt sold 2,915 shares of RB Global stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the transaction, the insider now owns 19,271 shares in the company, valued at approximately $1,595,638.80. This trade represents a 0.00 % 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. In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of RB Global stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the transaction, the insider now directly owns 19,271 shares in the company, valued at $1,595,638.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO James J. Jeter sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.55, for a total value of $256,650.00. Following the completion of the sale, the executive now directly owns 20,267 shares in the company, valued at approximately $1,733,841.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,681 shares of company stock worth $3,489,480 over the last quarter. 4.32% of the stock is owned by corporate 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.