Park Avenue Securities LLC Acquires 658 Shares of RB Global, Inc. (NYSE:RBA)

Park Avenue Securities LLC increased its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,082 shares of the business services provider’s stock after purchasing an additional 658 shares during the quarter. Park Avenue Securities LLC’s holdings in RB Global were worth $729,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI raised its stake in RB Global by 309.6% during the third quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock worth $65,014,000 after acquiring an additional 610,843 shares in the last quarter. FMR LLC lifted its holdings in shares of RB Global by 60.5% during the 3rd quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock valued at $95,057,000 after purchasing an additional 445,004 shares in the last quarter. CIBC Asset Management Inc raised its position in RB Global by 57.1% in the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock valued at $80,076,000 after buying an additional 357,761 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of RB Global by 17.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock worth $196,109,000 after purchasing an additional 354,803 shares during the last quarter. Finally, Canoe Financial LP increased its holdings in shares of RB Global by 22.0% during the 3rd quarter. Canoe Financial LP now owns 1,418,666 shares of the business services provider’s stock worth $113,900,000 after acquiring an additional 255,484 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada boosted their price target on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. CIBC raised their price objective on RB Global from $102.00 to $109.00 and gave the company an “outperformer” rating in a research note on Thursday, December 12th. Robert W. Baird increased their target price on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. BMO Capital Markets raised their price objective on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Two investment 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 stock presently has an average rating of “Moderate Buy” and an average target price of $100.36.

RB Global Trading Up 1.7 %

Shares of RB Global stock opened at $90.80 on Wednesday. The stock has a market capitalization of $16.77 billion, a PE ratio of 49.35, a price-to-earnings-growth ratio of 3.36 and a beta of 0.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. RB Global, Inc. has a 52 week low of $60.84 and a 52 week high of $99.79. The stock has a 50 day moving average price of $93.09 and a two-hundred day moving average price of $86.19.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, February 6th will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, February 6th. This represents a $1.16 annualized dividend and a dividend yield of 1.28%. RB Global’s payout ratio is 63.04%.

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.