Swiss National Bank Sells 20,600 Shares of RB Global, Inc. (NYSE:RBA)

Swiss National Bank decreased its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.7% in the 4th quarter, according to its most recent Form 13F 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 owned approximately 0.29% of RB Global worth $48,259,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Central Pacific Bank Trust Division purchased a new position in RB Global during the fourth quarter worth about $27,000. Versant Capital Management Inc grew its position in RB Global by 136.4% during the fourth 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 in the last quarter. Jones Financial Companies Lllp grew its position in RB Global by 49.4% during the fourth 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 in the last quarter. Whipplewood Advisors LLC purchased a new position in RB Global during the fourth quarter worth about $37,000. Finally, Geneos Wealth Management Inc. purchased a new position in RB Global during the fourth quarter worth about $40,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RBA has been the subject of several research analyst reports. BMO Capital Markets lifted their price target on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com lowered RB Global from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Royal Bank of Canada lifted their price target on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. CIBC dropped their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. 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 note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.64.

RB Global Trading Up 1.5 %

NYSE RBA opened at $95.81 on Monday. RB Global, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $94.52 and a 200-day moving average of $90.44. The firm has a market cap of $17.70 billion, a PE ratio of 47.66, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA) (TSE:RBA) last released 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). The business 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 EPS. As a group, sell-side analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was 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.