Smartleaf Asset Management LLC Cuts Holdings in RB Global, Inc. (NYSE:RBA)

Smartleaf Asset Management LLC reduced its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 11.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,819 shares of the business services provider’s stock after selling 232 shares during the period. Smartleaf Asset Management LLC’s holdings in RB Global were worth $164,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Peloton Wealth Strategists purchased a new position in RB Global in the 4th quarter valued at approximately $257,000. QRG Capital Management Inc. increased its stake in RB Global by 36.2% in the 4th quarter. QRG Capital Management Inc. now owns 3,456 shares of the business services provider’s stock valued at $312,000 after purchasing an additional 918 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in RB Global in the 4th quarter valued at approximately $36,000. Oppenheimer Asset Management Inc. increased its stake in RB Global by 10.8% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 234,575 shares of the business services provider’s stock valued at $21,161,000 after purchasing an additional 22,956 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in RB Global by 2.1% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 71,400 shares of the business services provider’s stock valued at $6,441,000 after purchasing an additional 1,500 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Price Performance

Shares of NYSE:RBA opened at $99.62 on Friday. The company has a market cap of $18.40 billion, a P/E ratio of 49.56, a P/E/G ratio of 4.95 and a beta of 0.96. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90. The business has a fifty day simple moving average of $93.49 and a 200-day simple moving average of $89.76.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The business 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 period in the prior year, the firm earned $0.82 EPS. Equities research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. CIBC dropped their price objective on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Raymond James increased their target price on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Royal Bank of Canada raised their price target on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird raised their price target on RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, RB Global presently has a consensus rating of “Moderate Buy” and a consensus 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.