United Services Automobile Association Sells 3,277 Shares of RB Global, Inc. (NYSE:RBA)

United Services Automobile Association trimmed its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 15.1% in the third quarter, HoldingsChannel reports. The firm owned 18,413 shares of the business services provider’s stock after selling 3,277 shares during the quarter. United Services Automobile Association’s holdings in RB Global were worth $1,482,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its holdings in shares of RB Global by 1,177.0% in the first quarter. Cetera Investment Advisers now owns 43,572 shares of the business services provider’s stock valued at $3,319,000 after acquiring an additional 40,160 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of RB Global by 24.5% during the 1st quarter. Cetera Advisors LLC now owns 7,488 shares of the business services provider’s stock worth $570,000 after purchasing an additional 1,472 shares during the period. SG Americas Securities LLC raised its stake in shares of RB Global by 348.7% during the 2nd quarter. SG Americas Securities LLC now owns 81,076 shares of the business services provider’s stock worth $6,191,000 after purchasing an additional 63,007 shares during the period. MJP Associates Inc. ADV raised its stake in shares of RB Global by 10.7% during the 2nd quarter. MJP Associates Inc. ADV now owns 4,159 shares of the business services provider’s stock worth $318,000 after purchasing an additional 401 shares during the period. Finally, Securian Asset Management Inc. purchased a new stake in RB Global during the second quarter worth about $1,119,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Trading Down 0.8 %

Shares of RBA stock opened at $96.84 on Friday. RB Global, Inc. has a 1 year low of $60.84 and a 1 year high of $99.79. The company’s fifty day simple moving average is $88.39 and its two-hundred day simple moving average is $82.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. The stock has a market capitalization of $17.86 billion, a price-to-earnings ratio of 52.63, a PEG ratio of 4.72 and a beta of 0.95.

RB Global Dividend Announcement

The business 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 dividend of $0.29 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.20%. RB Global’s dividend payout ratio (DPR) is 63.04%.

Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,166,263.23. This represents a 17.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. BMO Capital Markets lifted their price target 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 raised their target price on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, Robert W. Baird boosted 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, November 11th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, RB Global has an average rating of “Moderate Buy” and a consensus price target of $98.36.

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.