Charles Schwab Investment Management Inc. Cuts Stake in RB Global, Inc. (NYSE:RBA)

Charles Schwab Investment Management Inc. lowered its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,450,799 shares of the business services provider’s stock after selling 1,047 shares during the period. Charles Schwab Investment Management Inc. owned 0.79% of RB Global worth $130,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RBA. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. CIBC decreased their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. Raymond James lifted their price objective on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Royal Bank of Canada upped their target price 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. Finally, Robert W. Baird lifted their price target on RB Global from $105.00 to $110.00 and gave the stock 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 given a buy rating to the company. According to data from MarketBeat, RB Global currently has an average rating of “Moderate Buy” and an average target price of $107.64.

RB Global Stock Performance

RB Global stock opened at $101.36 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The firm has a market capitalization of $18.73 billion, a P/E ratio of 50.43, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94. RB Global, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90. The company’s 50-day moving average is $93.87 and its 200 day moving average is $89.96.

RB Global (NYSE:RBA) (TSE:RBA) last issued 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). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. Research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Friday, February 14th. 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.