Stephens Inc. AR Has $370,000 Stock Position in RB Global, Inc. (NYSE:RBA)

Stephens Inc. AR boosted its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 26.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,097 shares of the business services provider’s stock after purchasing an additional 860 shares during the quarter. Stephens Inc. AR’s holdings in RB Global were worth $370,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp raised its stake in RB Global by 2.1% in the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock valued at $406,087,000 after purchasing an additional 103,080 shares in the last quarter. Geode Capital Management LLC raised its stake in 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 in the last quarter. Janus Henderson Group PLC raised its stake in RB Global by 0.7% in the third quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider’s stock valued at $272,293,000 after purchasing an additional 24,101 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in RB Global by 17.1% in the third 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 purchasing an additional 354,803 shares in the last quarter. Finally, Canoe Financial LP raised its stake in RB Global by 22.0% in the third quarter. Canoe Financial LP now owns 1,418,666 shares of the business services provider’s stock valued at $113,900,000 after purchasing an additional 255,484 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. BMO Capital Markets boosted their price target on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Royal Bank of Canada lifted their target price on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Robert W. Baird lifted 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. StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Finally, CIBC decreased their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.21.

RB Global Stock Performance

NYSE:RBA opened at $96.28 on Friday. The stock has a market cap of $17.79 billion, a P/E ratio of 52.33, a price-to-earnings-growth ratio of 3.82 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The stock’s 50-day moving average is $91.47 and its 200-day moving average is $87.68. RB Global, Inc. has a 1-year low of $65.99 and a 1-year high of $99.79.

RB Global Dividend Announcement

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 issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Friday, February 14th. RB Global’s dividend payout ratio (DPR) is currently 63.04%.

About RB Global

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.