Securian Asset Management Inc. Lowers Holdings in RB Global, Inc. (NYSE:RBA)

Securian Asset Management Inc. decreased its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,941 shares of the business services provider’s stock after selling 386 shares during the quarter. Securian Asset Management Inc.’s holdings in RB Global were worth $1,258,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Central Pacific Bank Trust Division purchased a new stake in shares of RB Global during the fourth quarter valued at $27,000. CIBC Asset Management Inc boosted its holdings in RB Global by 57.1% in the third 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. 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 purchasing an additional 20,724 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of RB Global by 53.5% during the 3rd 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 in the last quarter. Finally, SRS Capital Advisors Inc. boosted its stake in shares of RB Global by 163.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider’s stock worth $58,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

RBA has been the subject of several research analyst reports. CIBC reduced their price target 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 price objective on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. BMO Capital Markets boosted their price objective on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Robert W. Baird upped their price target on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, StockNews.com lowered RB Global from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.64.

RB Global Stock Performance

NYSE RBA opened at $95.81 on Friday. RB Global, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90. The company has a market capitalization of $17.70 billion, a P/E ratio of 47.66, a PEG ratio of 4.95 and a beta of 0.94. The business has a 50 day moving average price of $94.45 and a 200 day moving average price of $90.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17.

RB Global (NYSE:RBA) (TSE:RBA) last released 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 return on equity of 8.00% and a net margin of 9.64%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the business posted $0.82 EPS. Sell-side analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Friday, February 14th. RB Global’s payout ratio is currently 57.71%.

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.