Cumberland Partners Ltd Reduces Holdings in RB Global, Inc. (NYSE:RBA)

Cumberland Partners Ltd decreased its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 28.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,500 shares of the business services provider’s stock after selling 1,000 shares during the period. Cumberland Partners Ltd’s holdings in RB Global were worth $226,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RBA. Creative Planning increased its stake in RB Global by 27.6% during the 3rd quarter. Creative Planning now owns 19,811 shares of the business services provider’s stock worth $1,595,000 after buying an additional 4,285 shares during the period. Blue Trust Inc. increased its position in shares of RB Global by 11.9% in the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock worth $113,000 after purchasing an additional 157 shares during the last quarter. Signaturefd LLC increased its position in shares of RB Global by 21.3% in the 3rd quarter. Signaturefd LLC now owns 3,699 shares of the business services provider’s stock worth $298,000 after purchasing an additional 649 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of RB Global in the 3rd quarter worth about $1,057,000. Finally, Assenagon Asset Management S.A. increased its position in shares of RB Global by 8.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 10,141 shares of the business services provider’s stock worth $817,000 after purchasing an additional 781 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Trading Down 1.0 %

NYSE RBA opened at $103.63 on Friday. RB Global, Inc. has a one year low of $65.99 and a one year high of $106.90. The company has a 50-day simple moving average of $91.78 and a 200-day simple moving average of $88.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. The firm has a market capitalization of $19.14 billion, a PE ratio of 51.55, a price-to-earnings-growth ratio of 4.02 and a beta of 0.96.

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). The business had revenue of $1.14 billion during 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 8.03%. During the same period last year, the firm posted $0.82 earnings per share. On average, equities analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The company also recently announced 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. This represents a $1.16 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Friday, February 14th. RB Global’s payout ratio is 57.71%.

Analysts Set New Price Targets

RBA has been the subject of several research analyst reports. StockNews.com raised shares of RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Robert W. Baird boosted their target price on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday. CIBC dropped their target price on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. Raymond James boosted their target price on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Royal Bank of Canada lifted 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.64.

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.