RB Global, Inc. (NYSE:RBA) Shares Acquired by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC lifted its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,073 shares of the business services provider’s stock after buying an additional 1,520 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in RB Global were worth $2,532,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in RBA. State Street Corp boosted its stake in shares of RB Global by 2.1% in the 3rd quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock valued at $406,087,000 after buying an additional 103,080 shares during the period. Geode Capital Management LLC increased its holdings in RB Global by 3.0% in the third quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider’s stock valued at $297,400,000 after buying an additional 108,188 shares during the last quarter. Janus Henderson Group PLC raised its stake in RB Global by 0.7% in the third quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider’s stock valued at $272,293,000 after buying an additional 24,101 shares in the last quarter. Fiera Capital Corp lifted its holdings in RB Global by 5.7% during the 2nd quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock worth $239,881,000 after buying an additional 168,945 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of RB Global by 17.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock worth $196,109,000 after acquiring an additional 354,803 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Price Performance

Shares of RBA traded down $0.60 during mid-day trading on Monday, hitting $91.62. The company’s stock had a trading volume of 396,868 shares, compared to its average volume of 543,888. The firm has a 50-day simple moving average of $92.69 and a 200 day simple moving average of $85.09. RB Global, Inc. has a 1-year low of $60.84 and a 1-year high of $99.79. The firm has a market capitalization of $16.92 billion, a P/E ratio of 49.79, a P/E/G ratio of 4.56 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were issued a $0.29 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.27%. RB Global’s dividend payout ratio is presently 63.04%.

Wall Street Analysts Forecast Growth

RBA has been the topic of a number of research analyst reports. Robert W. Baird raised their price objective on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Royal Bank of Canada raised their price target on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. BMO Capital Markets raised their target price 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. Finally, CIBC increased their price target on shares of RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $100.36.

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.