Tobam Sells 17,602 Shares of RB Global, Inc. (NYSE:RBA)

Tobam decreased its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 29.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 41,445 shares of the business services provider’s stock after selling 17,602 shares during the period. Tobam’s holdings in RB Global were worth $3,739,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RBA. Central Pacific Bank Trust Division bought a new position in RB Global in the 4th quarter worth about $27,000. Versant Capital Management Inc grew its stake in RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after purchasing an additional 176 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in RB Global during the 4th quarter worth $40,000. UMB Bank n.a. raised its position in RB Global by 196.0% during the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 388 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of RB Global by 25.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock worth $64,000 after buying an additional 143 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Stock Up 2.7 %

NYSE:RBA opened at $91.50 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. RB Global, Inc. has a twelve month low of $65.79 and a twelve month high of $99.79. The company has a market cap of $16.90 billion, a PE ratio of 49.73, a P/E/G ratio of 3.73 and a beta of 0.96. The company’s 50 day moving average is $91.84 and its two-hundred day moving average is $87.00.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Friday, February 14th. RB Global’s payout ratio is 63.04%.

Analyst Ratings Changes

Several brokerages have recently commented on RBA. Royal Bank of Canada raised their price target on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Robert W. Baird boosted their price target on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. BMO Capital Markets lifted their price objective on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Finally, CIBC cut their price objective on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.21.

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.