Short Interest in RB Global, Inc. (NYSE:RBA) Decreases By 30.6%

RB Global, Inc. (NYSE:RBA) (TSE:RBA) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 3,400,000 shares, a drop of 30.6% from the January 15th total of 4,900,000 shares. Based on an average daily volume of 874,400 shares, the days-to-cover ratio is presently 3.9 days. Currently, 1.9% of the shares of the company are sold short.

Hedge Funds Weigh In On RB Global

Institutional investors have recently bought and sold shares of the business. Arlington Partners LLC raised its position in shares of RB Global by 22.3% during the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock worth $3,958,000 after acquiring an additional 8,961 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of RB Global during the fourth quarter worth $27,000. CIBC Asset Management Inc raised its position in shares of RB Global by 57.1% during the third quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after acquiring an additional 357,761 shares during the last quarter. Diversified Trust Co raised its position in shares of RB Global by 48.9% during the fourth quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock worth $5,694,000 after acquiring an additional 20,724 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of 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 acquiring an additional 20,795 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on RBA. StockNews.com raised RB Global from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada raised 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. Robert W. Baird raised 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. BMO Capital Markets raised their target price on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, 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 report on Monday, February 3rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, RB Global has an average rating of “Moderate Buy” and an average target price of $100.21.

RB Global Price Performance

RBA traded up $0.36 during trading on Friday, hitting $96.28. The company’s stock had a trading volume of 1,104,261 shares, compared to its average volume of 952,394. The firm’s 50 day moving average price is $91.47 and its two-hundred day moving average price is $87.73. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. RB Global has a 12 month low of $65.99 and a 12 month high of $99.79. The stock has a market capitalization of $17.79 billion, a price-to-earnings ratio of 52.33, a price-to-earnings-growth ratio of 3.82 and a beta of 0.96.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 1.20%. RB Global’s payout ratio 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.