Postrock Partners LLC Acquires New Position in RB Global, Inc. (NYSE:RBA)

Postrock Partners LLC bought a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,780 shares of the business services provider’s stock, valued at approximately $1,604,000. RB Global comprises about 0.8% of Postrock Partners LLC’s investment portfolio, making the stock its 28th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Central Pacific Bank Trust Division acquired a new stake in shares of RB Global during the fourth quarter worth $27,000. CIBC Asset Management Inc boosted its stake in RB Global by 57.1% during the third quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after buying an additional 357,761 shares during the last quarter. Diversified Trust Co grew its stake in shares of RB Global by 48.9% in the 4th quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock valued at $5,694,000 after buying an additional 20,724 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in RB Global by 53.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock worth $4,805,000 after buying an additional 20,795 shares during the period. Finally, SRS Capital Advisors Inc. grew its stake in shares of RB Global by 163.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider’s stock valued at $58,000 after buying an additional 400 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. CIBC dropped 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. StockNews.com cut shares of RB Global from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Robert W. Baird lifted their target price on shares of 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 raised their price objective on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a 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 note on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.64.

RB Global Stock Performance

Shares of RBA opened at $94.43 on Friday. RB Global, Inc. has a one year low of $69.83 and a one year high of $106.90. The company’s fifty day moving average price is $94.36 and its 200 day moving average price is $90.29. The company has a market capitalization of $17.44 billion, a PE ratio of 46.98, a price-to-earnings-growth 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 (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business earned $0.82 EPS. As a group, analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.29 per share. The ex-dividend date was Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 1.23%. RB Global’s dividend payout ratio (DPR) is 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.