RB Global, Inc. (NYSE:RBA) Shares Sold by Cooke & Bieler LP

Cooke & Bieler LP lessened its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 2.0% in the fourth quarter, HoldingsChannel reports. The fund owned 3,146,573 shares of the business services provider’s stock after selling 65,600 shares during the period. RB Global makes up about 2.7% of Cooke & Bieler LP’s portfolio, making the stock its 3rd largest holding. Cooke & Bieler LP’s holdings in RB Global were worth $283,852,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new stake in shares of RB Global in the 4th quarter worth $27,000. CIBC Asset Management Inc increased its position in 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 purchasing an additional 357,761 shares during the last quarter. Diversified Trust Co increased its holdings in RB Global by 48.9% in the fourth quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock worth $5,694,000 after buying an additional 20,724 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in RB Global by 53.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock worth $4,805,000 after buying an additional 20,795 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its holdings in RB Global by 163.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider’s stock worth $58,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RBA shares. Robert W. Baird increased their price target on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Royal Bank of Canada raised their price objective on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. BMO Capital Markets raised their target price on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com cut RB Global from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, CIBC cut their price objective on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.64.

RB Global Stock Performance

Shares of NYSE:RBA opened at $99.52 on Tuesday. RB Global, Inc. has a twelve month low of $69.83 and a twelve month high of $106.90. The firm has a market cap of $18.39 billion, a PE ratio of 49.51, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The business has a fifty day moving average of $93.87 and a 200-day moving average of $90.05.

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 firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same quarter in the previous year, the business earned $0.82 earnings per share. On average, equities research analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.17%. RB Global’s payout ratio is currently 57.71%.

About RB Global

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.