Royce & Associates LP Sells 44,526 Shares of RB Global, Inc. (NYSE:RBA)

Royce & Associates LP reduced its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 527,488 shares of the business services provider’s stock after selling 44,526 shares during the quarter. Royce & Associates LP owned approximately 0.29% of RB Global worth $47,585,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Natixis Advisors LLC grew its stake in shares of RB Global by 69.5% in the fourth quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider’s stock valued at $1,703,000 after buying an additional 7,737 shares in the last quarter. 12th Street Asset Management Company LLC boosted its position in RB Global by 51.7% during the fourth quarter. 12th Street Asset Management Company LLC now owns 335,465 shares of the business services provider’s stock worth $30,262,000 after purchasing an additional 114,304 shares during the period. Postrock Partners LLC acquired a new position in RB Global in the 4th quarter valued at about $1,604,000. Intact Investment Management Inc. grew its position in shares of RB Global by 0.6% in the fourth quarter. Intact Investment Management Inc. now owns 638,838 shares of the business services provider’s stock valued at $57,652,000 after purchasing an additional 3,990 shares during the last quarter. Finally, Aviso Financial Inc. grew its position in shares of RB Global by 1.4% in the fourth quarter. Aviso Financial Inc. now owns 80,970 shares of the business services provider’s stock valued at $7,306,000 after purchasing an additional 1,112 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on RBA. Raymond James upped their target price on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. CIBC cut their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. BMO Capital Markets increased their price target on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Robert W. Baird increased their price target on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.64.

RB Global Stock Performance

Shares of RB Global stock opened at $95.81 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $94.52 and a two-hundred day moving average price of $90.41. RB Global, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90. The company has a market cap of $17.70 billion, a P/E ratio of 47.66, a PEG ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the business posted $0.82 earnings per share. As a group, analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.21%. RB Global’s payout ratio is currently 57.71%.

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.