Dundas Partners LLP Trims Stock Position in RB Global, Inc. (NYSE:RBA)

Dundas Partners LLP reduced its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 17.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,989 shares of the business services provider’s stock after selling 19,699 shares during the quarter. Dundas Partners LLP’s holdings in RB Global were worth $8,301,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after purchasing an additional 129 shares in the last quarter. Weil Company Inc. increased its stake in RB Global by 1.2% during the third quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock worth $912,000 after purchasing an additional 132 shares during the period. Summit Trail Advisors LLC raised its stake in shares of RB Global by 4.6% in the fourth quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider’s stock valued at $279,000 after acquiring an additional 137 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in RB Global by 25.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock worth $64,000 after acquiring an additional 143 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after buying an additional 176 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

RBA has been the topic of several research reports. Royal Bank of Canada raised their price objective on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird upped their price target on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Raymond James increased their price objective on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, BMO Capital Markets upped their target price on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.64.

RB Global Trading Up 1.7 %

Shares of RBA stock opened at $101.36 on Friday. RB Global, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90. The firm’s 50-day simple moving average is $93.87 and its 200-day simple moving average is $89.96. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The firm has a market cap of $18.73 billion, a P/E ratio of 50.43, a PEG ratio of 4.95 and a beta of 0.94.

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

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.14%. The ex-dividend date was Friday, February 14th. RB Global’s dividend payout ratio (DPR) is 57.71%.

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.