Proficio Capital Partners LLC Takes Position in RB Global, Inc. (NYSE:RBA)

Proficio Capital Partners LLC acquired a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,813 shares of the business services provider’s stock, valued at approximately $36,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RBA. Vontobel Holding Ltd. grew its holdings in shares of RB Global by 9.8% during the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after buying an additional 753,700 shares in the last quarter. National Bank of Canada FI lifted its stake in RB Global by 309.6% in the third quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock valued at $65,014,000 after acquiring an additional 610,843 shares during the last quarter. FMR LLC grew its position in shares of RB Global by 60.5% in the 3rd quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock valued at $95,057,000 after acquiring an additional 445,004 shares during the period. CIBC Asset Management Inc increased its stake in shares of RB Global by 57.1% during the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after purchasing an additional 357,761 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of 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 purchasing an additional 354,803 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RBA shares. Royal Bank of Canada lifted their price target on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird lifted their target price on RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. BMO Capital Markets increased their price target on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Raymond James lifted their price objective on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, StockNews.com lowered shares of RB Global from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, RB Global has an average rating of “Moderate Buy” and a consensus target price of $107.64.

RB Global Stock Down 3.2 %

RBA stock opened at $94.43 on Friday. The business’s fifty day moving average price is $94.36 and its two-hundred day moving average price is $90.29. The stock has a market capitalization of $17.44 billion, a price-to-earnings ratio of 46.98, a PEG ratio of 4.95 and a beta of 0.94. RB Global, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm earned $0.82 EPS. On average, equities analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Friday, February 14th. RB Global’s dividend payout ratio is currently 57.71%.

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.