Mn Services Vermogensbeheer B.V. Boosts Stake in RB Global, Inc. (NYSE:RBA)

Mn Services Vermogensbeheer B.V. grew its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 2.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 71,400 shares of the business services provider’s stock after acquiring an additional 1,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in RB Global were worth $6,441,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RBA. Vontobel Holding Ltd. grew its holdings in shares of RB Global by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after acquiring an additional 753,700 shares during the period. National Bank of Canada FI grew its stake in shares of RB Global by 309.6% in the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock worth $65,014,000 after buying an additional 610,843 shares during the last quarter. FMR LLC grew its stake 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 worth $95,057,000 after buying an additional 445,004 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of 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 worth $80,076,000 after buying an additional 357,761 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake 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 worth $196,109,000 after buying an additional 354,803 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

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

RB Global Stock Performance

RBA stock opened at $102.33 on Friday. The stock has a market capitalization of $18.90 billion, a PE ratio of 50.91, 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 has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The stock’s 50 day simple moving average is $92.86 and its 200 day simple moving average is $89.27.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results 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). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period in the previous year, the company earned $0.82 earnings per share. As a group, research analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

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. The ex-dividend date is Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.13%. RB Global’s payout ratio is 57.71%.

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.