RB Global, Inc. (NYSE:RBA) Stake Lowered by Addenda Capital Inc.

Addenda Capital Inc. cut its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.3% in the 4th quarter, Holdings Channel reports. The firm owned 104,630 shares of the business services provider’s stock after selling 298 shares during the quarter. Addenda Capital Inc.’s holdings in RB Global were worth $9,439,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. State Street Corp grew its holdings in shares of RB Global by 2.1% during the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock valued at $406,087,000 after purchasing an additional 103,080 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of RB Global by 3.0% during the third quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider’s stock worth $297,400,000 after buying an additional 108,188 shares during the period. Janus Henderson Group PLC boosted its position in shares of RB Global by 0.7% during the third quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider’s stock worth $272,293,000 after buying an additional 24,101 shares during the period. Fiera Capital Corp boosted its position in shares of RB Global by 5.7% during the second quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock worth $239,881,000 after buying an additional 168,945 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of RB Global by 17.1% during the third quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock worth $196,109,000 after buying an additional 354,803 shares during the period. 95.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RBA. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. BMO Capital Markets boosted their price objective on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. CIBC boosted their price objective on RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a research report on Thursday, December 12th. Robert W. Baird upped their target price on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada upped their target price on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $100.36.

RB Global Price Performance

NYSE RBA opened at $89.24 on Tuesday. The stock has a market capitalization of $16.49 billion, a P/E ratio of 48.50, a P/E/G ratio of 3.36 and a beta of 0.96. RB Global, Inc. has a 1 year low of $60.84 and a 1 year high of $99.79. The business’s fifty day moving average is $93.13 and its two-hundred day moving average is $86.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.30%. RB Global’s dividend payout ratio is currently 63.04%.

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.