Central Pacific Bank Trust Division Makes New $27,000 Investment in RB Global, Inc. (NYSE:RBA)

Central Pacific Bank Trust Division acquired a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 301 shares of the business services provider’s stock, valued at approximately $27,000.

Other hedge funds have also modified their holdings of the company. Everence Capital Management Inc. acquired a new position in RB Global during the fourth quarter worth $447,000. Versant Capital Management Inc increased its position in shares of RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after purchasing an additional 176 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in RB Global by 1.1% during the 3rd quarter. Retirement Systems of Alabama now owns 287,684 shares of the business services provider’s stock valued at $23,156,000 after purchasing an additional 3,192 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in RB Global in the third quarter valued at about $465,000. Finally, Teachers Retirement System of The State of Kentucky grew 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 last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Price Performance

Shares of RBA stock opened at $92.22 on Monday. The firm has a market cap of $17.04 billion, a price-to-earnings ratio of 50.12, a PEG ratio of 4.56 and a beta of 0.95. RB Global, Inc. has a 12 month low of $60.84 and a 12 month high of $99.79. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average price of $92.69 and a 200 day moving average price of $85.09.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.16 annualized dividend and a yield of 1.26%. RB Global’s dividend payout ratio is currently 63.04%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RBA. BMO Capital Markets lifted their target price on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Robert W. Baird boosted their price objective on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Royal Bank of Canada raised their target price on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, CIBC upped their price target on shares of RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.36.

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.