RB Global, Inc. (NYSE:RBA) Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC lowered its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 19.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,230,934 shares of the business services provider’s stock after selling 531,401 shares during the period. RB Global makes up approximately 2.7% of Riverbridge Partners LLC’s portfolio, making the stock its 6th biggest holding. Riverbridge Partners LLC owned approximately 1.21% of RB Global worth $201,253,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Arlington Partners LLC raised its holdings in RB Global by 22.3% in the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock valued at $3,958,000 after buying an additional 8,961 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of RB Global in the 4th quarter valued at $27,000. CIBC Asset Management Inc raised 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 acquiring an additional 357,761 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings 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 valued at $4,805,000 after acquiring an additional 20,795 shares in the last quarter. Finally, Diversified Trust Co boosted its position in RB Global by 48.9% during the 4th quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock worth $5,694,000 after purchasing an additional 20,724 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Down 1.0 %

RBA stock opened at $89.95 on Thursday. The company has a market capitalization of $16.62 billion, a P/E ratio of 48.89, a PEG ratio of 3.42 and a beta of 0.96. The firm has a 50 day simple moving average of $93.06 and a 200-day simple moving average of $86.22. 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, Inc. has a twelve month low of $60.84 and a twelve month high of $99.79.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, February 6th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Thursday, February 6th. RB Global’s payout ratio is currently 63.04%.

Wall Street Analyst Weigh In

RBA has been the topic of several research reports. Royal Bank of Canada raised their price objective on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. StockNews.com lowered RB Global from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. BMO Capital Markets upped their price target on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Robert W. Baird lifted their price objective on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, CIBC upped their target price on shares of RB Global from $102.00 to $109.00 and gave the company 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 assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.36.

About RB Global

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.