Yousif Capital Management LLC Lowers Stock Holdings in RB Global, Inc. (NYSE:RBA)

Yousif Capital Management LLC trimmed its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 68,195 shares of the business services provider’s stock after selling 2,675 shares during the period. Yousif Capital Management LLC’s holdings in RB Global were worth $6,152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Arlington Partners LLC grew its holdings in RB Global by 22.3% in the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock valued at $3,958,000 after purchasing an additional 8,961 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of RB Global during the 4th quarter worth $27,000. CIBC Asset Management Inc increased its holdings in shares of RB Global by 57.1% during the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after buying an additional 357,761 shares during the last quarter. Diversified Trust Co boosted its holdings in RB Global by 48.9% in the fourth quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock valued at $5,694,000 after acquiring an additional 20,724 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its position 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 valued at $4,805,000 after acquiring an additional 20,795 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. StockNews.com raised RB Global from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets increased their price objective on shares of RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Royal Bank of Canada lifted their target price on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Robert W. Baird increased their price target on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, CIBC lowered 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.21.

RB Global Stock Performance

Shares of RBA opened at $91.50 on Friday. RB Global, Inc. has a 52-week low of $65.79 and a 52-week high of $99.79. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. The firm has a market cap of $16.90 billion, a price-to-earnings ratio of 49.73, a PEG ratio of 3.73 and a beta of 0.96. The business’s 50 day moving average is $91.84 and its two-hundred day moving average is $87.00.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.27%. RB Global’s dividend payout ratio (DPR) is 63.04%.

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.