Assenagon Asset Management S.A. Cuts Stake in RB Global, Inc. (NYSE:RBA)

Assenagon Asset Management S.A. reduced its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 30.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,085 shares of the business services provider’s stock after selling 3,056 shares during the quarter. Assenagon Asset Management S.A.’s holdings in RB Global were worth $639,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of RB Global by 2.1% in the 3rd 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 increased its holdings in RB Global by 3.0% during 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 buying an additional 108,188 shares during the period. 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 worth $272,293,000 after buying an additional 24,101 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of RB Global by 5.7% in the 2nd quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock valued at $239,881,000 after acquiring an additional 168,945 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position 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 acquiring an additional 354,803 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Performance

Shares of RBA opened at $90.33 on Friday. 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 stock has a 50-day moving average of $92.96 and a two-hundred day moving average of $86.34. The stock has a market cap of $16.69 billion, a P/E ratio of 49.09, a P/E/G ratio of 3.39 and a beta of 0.96. RB Global, Inc. has a one year low of $60.84 and a one year high of $99.79.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, February 6th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, February 6th. RB Global’s dividend payout ratio (DPR) is 63.04%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RBA. Robert W. Baird boosted their target price on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Royal Bank of Canada increased their target price on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. CIBC raised their price objective on RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets upped their target price on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $100.36.

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.