Parkside Financial Bank & Trust Has $380,000 Stake in RB Global, Inc. (NYSE:RBA)

Parkside Financial Bank & Trust trimmed its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,208 shares of the business services provider’s stock after selling 287 shares during the period. Parkside Financial Bank & Trust’s holdings in RB Global were worth $380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RBA. International Assets Investment Management LLC acquired a new stake in RB Global in the 3rd quarter valued at $1,057,000. Assenagon Asset Management S.A. increased its stake in RB Global by 8.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 10,141 shares of the business services provider’s stock valued at $817,000 after buying an additional 781 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in RB Global by 7.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,131 shares of the business services provider’s stock valued at $333,000 after buying an additional 273 shares during the last quarter. State of Alaska Department of Revenue increased its stake in RB Global by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 21,420 shares of the business services provider’s stock valued at $1,724,000 after buying an additional 1,450 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in RB Global by 3.2% in the 3rd quarter. New York State Teachers Retirement System now owns 95,995 shares of the business services provider’s stock valued at $7,727,000 after buying an additional 2,995 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RBA. Robert W. Baird lifted their price target on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Royal Bank of Canada lifted their price objective on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. CIBC decreased their price objective 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 lifted their price objective on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, BMO Capital Markets lifted their price objective on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, RB Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.64.

RB Global Stock Performance

Shares of RBA stock opened at $102.33 on Friday. The company has a market capitalization of $18.90 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 4.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The company has a 50-day simple moving average of $92.63 and a 200 day simple moving average of $89.10. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.23). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period in the previous year, the firm posted $0.82 EPS. On average, sell-side 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 will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Friday, February 14th. RB Global’s payout ratio is 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.