Coyle Financial Counsel LLC Boosts Position in RB Global, Inc. (NYSE:RBA)

Coyle Financial Counsel LLC grew its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 10.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 23,528 shares of the business services provider’s stock after acquiring an additional 2,271 shares during the quarter. RB Global comprises 0.7% of Coyle Financial Counsel LLC’s portfolio, making the stock its 24th largest holding. Coyle Financial Counsel LLC’s holdings in RB Global were worth $2,122,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Creative Planning grew its stake in RB Global by 27.6% in the third quarter. Creative Planning now owns 19,811 shares of the business services provider’s stock worth $1,595,000 after purchasing an additional 4,285 shares during the period. Blue Trust Inc. grew its stake in RB Global by 11.9% in the third 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 period. International Assets Investment Management LLC purchased a new stake in RB Global in the third quarter worth $1,057,000. Assenagon Asset Management S.A. grew its stake in RB Global by 8.3% in the third 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 period. Finally, Forsta AP Fonden grew its stake in RB Global by 16.1% in the third quarter. Forsta AP Fonden now owns 43,300 shares of the business services provider’s stock worth $3,489,000 after purchasing an additional 6,000 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RBA shares. CIBC reduced their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. Robert W. Baird upped their price target on RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Royal Bank of Canada upped their price target on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Raymond James increased their target price on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, BMO Capital Markets increased their target price on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. 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, RB Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.64.

RB Global Trading Up 0.3 %

NYSE RBA opened at $102.86 on Tuesday. RB Global, Inc. has a 12 month low of $69.83 and a 12 month high of $106.90. The stock has a market cap of $19.00 billion, a P/E ratio of 51.17, a P/E/G ratio of 4.95 and a beta of 0.96. The stock’s fifty day moving average price is $92.09 and its 200-day moving average price is $88.79. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

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

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued 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 of this dividend is Friday, February 14th. RB Global’s payout ratio is currently 57.71%.

RB Global Company 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.