RB Global, Inc. (NYSE:RBA) Stake Reduced by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,025 shares of the business services provider’s stock after selling 395 shares during the period. State of Alaska Department of Revenue’s holdings in RB Global were worth $1,896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Arlington Partners LLC lifted its holdings in shares of RB Global by 22.3% during the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock valued at $3,958,000 after purchasing an additional 8,961 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in RB Global during the 4th quarter worth about $27,000. CIBC Asset Management Inc lifted 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 valued at $80,076,000 after buying an additional 357,761 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of RB Global by 48.9% in the fourth quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock worth $5,694,000 after buying an additional 20,724 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of RB Global by 53.5% in 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 acquiring an additional 20,795 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RBA shares. CIBC reduced their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. 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 report on Monday, November 11th. StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a report on Monday, January 27th. BMO Capital Markets increased their price objective on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada raised 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.21.

RB Global Stock Performance

Shares of NYSE RBA opened at $93.79 on Wednesday. The business’s 50-day simple moving average is $91.60 and its 200-day simple moving average is $87.40. RB Global, Inc. has a 52 week low of $65.79 and a 52 week high of $99.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. The firm has a market cap of $17.32 billion, a price-to-earnings ratio of 50.97, a P/E/G ratio of 3.82 and a beta of 0.96.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, February 14th. RB Global’s dividend payout ratio is 63.04%.

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.