New York State Common Retirement Fund Decreases Stake in RB Global, Inc. (NYSE:RBA)

New York State Common Retirement Fund cut its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 9.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 228,730 shares of the business services provider’s stock after selling 25,252 shares during the period. New York State Common Retirement Fund’s holdings in RB Global were worth $20,634,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RBA. Vontobel Holding Ltd. increased its holdings in shares of RB Global by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after buying an additional 753,700 shares during the last quarter. National Bank of Canada FI increased its stake in RB Global by 309.6% during the third quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock worth $65,014,000 after acquiring an additional 610,843 shares during the last quarter. FMR LLC raised its position in RB Global by 60.5% during the third quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock valued at $95,057,000 after purchasing an additional 445,004 shares during the period. CIBC Asset Management Inc lifted its stake 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 valued at $80,076,000 after purchasing an additional 357,761 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of RB Global by 17.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock valued at $196,109,000 after purchasing an additional 354,803 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Trading Down 0.9 %

Shares of RBA opened at $102.61 on Friday. 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 firm has a market capitalization of $18.95 billion, a price-to-earnings ratio of 51.05, a PEG ratio of 4.95 and a beta of 0.96. The company has a 50-day moving average of $91.94 and a 200 day moving average of $88.53. RB Global, Inc. has a 1-year low of $67.15 and a 1-year high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm posted $0.82 EPS. On average, research analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Friday, February 14th. RB Global’s payout ratio is 57.71%.

Wall Street Analysts Forecast Growth

RBA has been the topic of several analyst reports. Robert W. Baird boosted their target price on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday. StockNews.com upgraded shares of RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Raymond James raised their target price on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday. Royal Bank of Canada upped 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. Finally, BMO Capital Markets increased their price objective on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, RB Global currently has an average rating of “Moderate Buy” and an average price target of $107.64.

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.