Swiss National Bank Trims Stake in RB Global, Inc. (NYSE:RBA)

Swiss National Bank decreased its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 534,943 shares of the business services provider’s stock after selling 20,600 shares during the period. Swiss National Bank’s holdings in RB Global were worth $48,259,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new stake in shares of RB Global in the 4th quarter worth approximately $27,000. Versant Capital Management Inc grew its stake in shares of RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after buying an additional 176 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after buying an additional 129 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of RB Global in the 4th quarter worth approximately $36,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of RB Global in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. 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. CIBC cut their target price 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. BMO Capital Markets increased their target price on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Royal Bank of Canada increased their target price on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, RB Global presently has an average rating of “Moderate Buy” and a consensus price target of $107.64.

RB Global Price Performance

NYSE RBA opened at $95.81 on Monday. The business’s fifty day moving average price is $94.52 and its 200-day moving average price is $90.44. The stock has a market capitalization of $17.70 billion, a price-to-earnings ratio of 47.66, a PEG ratio of 4.95 and a beta of 0.94. 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, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90.

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). The firm 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. On average, equities analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The business 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. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.21%. RB Global’s dividend 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.