Everence Capital Management Inc. Makes New $447,000 Investment in RB Global, Inc. (NYSE:RBA)

Everence Capital Management Inc. bought a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,950 shares of the business services provider’s stock, valued at approximately $447,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its stake in RB Global by 2.1% during the 3rd quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock valued at $406,087,000 after acquiring an additional 103,080 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of RB Global by 3.0% in the third quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider’s stock valued at $297,400,000 after purchasing an additional 108,188 shares during the period. Janus Henderson Group PLC raised its stake in shares of RB Global by 0.7% during the third quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider’s stock worth $272,293,000 after purchasing an additional 24,101 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of RB Global by 5.7% during the second quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock worth $239,881,000 after purchasing an additional 168,945 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in RB Global by 17.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock valued at $196,109,000 after buying an additional 354,803 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Up 2.1 %

Shares of NYSE RBA opened at $92.22 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. The firm’s 50-day moving average is $92.69 and its two-hundred day moving average is $85.09. RB Global, Inc. has a 12-month low of $60.84 and a 12-month high of $99.79. The company has a market capitalization of $17.04 billion, a PE ratio of 50.12, a price-to-earnings-growth ratio of 4.56 and a beta of 0.95.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.26%. The ex-dividend date was Wednesday, November 27th. RB Global’s payout ratio is 63.04%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. CIBC upped their price objective 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. Royal Bank of Canada increased their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Robert W. Baird lifted their price objective on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, BMO Capital Markets increased their target price on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. 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, RB Global has an average rating of “Moderate Buy” and a consensus price target of $100.36.

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.