RB Global, Inc. (NYSE:RBA) Stake Lessened by Amundi

Amundi reduced its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 11.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 171,817 shares of the business services provider’s stock after selling 22,999 shares during the period. Amundi’s holdings in RB Global were worth $15,525,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RBA. Central Pacific Bank Trust Division bought a new position in RB Global during the fourth quarter valued at about $27,000. CIBC Asset Management Inc raised its holdings in shares of RB Global by 57.1% in the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after purchasing an additional 357,761 shares in the last quarter. Diversified Trust Co lifted its stake in RB Global by 48.9% during the fourth quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock valued at $5,694,000 after purchasing an additional 20,724 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in RB Global by 53.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock worth $4,805,000 after buying an additional 20,795 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its position in RB Global by 163.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider’s stock worth $58,000 after buying an additional 400 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Trading Down 3.2 %

NYSE:RBA opened at $94.43 on Friday. The stock has a market cap of $17.44 billion, a PE ratio of 46.98, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94. RB Global, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. 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 stock’s 50-day moving average is $94.36 and its two-hundred day moving average is $90.29.

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

RB Global Dividend Announcement

The firm also recently announced 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 1.23%. The ex-dividend date of this dividend was Friday, February 14th. RB Global’s dividend payout ratio is 57.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RBA shares. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Raymond James increased their price target on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. BMO Capital Markets lifted their price target on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Robert W. Baird raised their target price on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada boosted their price target on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $107.64.

RB Global Company 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.