Oppenheimer Asset Management Inc. Buys 22,956 Shares of RB Global, Inc. (NYSE:RBA)

Oppenheimer Asset Management Inc. lifted its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 10.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 234,575 shares of the business services provider’s stock after purchasing an additional 22,956 shares during the period. Oppenheimer Asset Management Inc.’s holdings in RB Global were worth $21,161,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Central Pacific Bank Trust Division bought a new position in shares of RB Global in the fourth quarter worth about $27,000. CIBC Asset Management Inc lifted its position in shares of 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 during the last quarter. Diversified Trust Co lifted its position in shares of RB Global by 48.9% during the fourth quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock valued at $5,694,000 after buying an additional 20,724 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of RB Global by 53.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock valued at $4,805,000 after buying an additional 20,795 shares during the last quarter. Finally, Forsta AP Fonden lifted its position in shares of RB Global by 16.1% during the third quarter. Forsta AP Fonden now owns 43,300 shares of the business services provider’s stock valued at $3,489,000 after buying an additional 6,000 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

RB Global Stock Down 1.1 %

Shares of RBA opened at $100.24 on Thursday. The firm has a market cap of $18.52 billion, a P/E ratio of 49.87, a price-to-earnings-growth ratio of 4.95 and a beta of 0.96. RB Global, Inc. has a 12-month low of $69.83 and a 12-month high of $106.90. The company’s 50-day moving average price is $92.44 and its 200 day moving average price is $89.02. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

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 (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.23). The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same quarter last year, the firm posted $0.82 earnings per share. On average, sell-side analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.16%. RB Global’s dividend payout ratio (DPR) is presently 57.71%.

Analyst Ratings Changes

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

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.