Oppenheimer Asset Management Inc. Purchases 22,956 Shares of RB Global, Inc. (NYSE:RBA)

Oppenheimer Asset Management Inc. raised its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 10.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 234,575 shares of the business services provider’s stock after purchasing an additional 22,956 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.13% of RB Global worth $21,161,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in shares of RB Global in the fourth quarter worth approximately $27,000. CIBC Asset Management Inc grew its stake in shares of RB Global by 57.1% in the third quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after acquiring an additional 357,761 shares during the period. Diversified Trust Co grew its stake in shares of 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 acquiring an additional 20,724 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in shares of 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 acquiring an additional 20,795 shares during the period. Finally, Forsta AP Fonden grew its stake in shares of RB Global by 16.1% in the third quarter. Forsta AP Fonden now owns 43,300 shares of the business services provider’s stock worth $3,489,000 after acquiring an additional 6,000 shares during the period. 95.37% of the stock is currently owned by institutional investors.

RB Global Price Performance

RBA stock opened at $100.24 on Thursday. RB Global, Inc. has a one year low of $69.83 and a one year high of $106.90. The company’s fifty day moving average price is $92.44 and its 200-day moving average price is $89.02. 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 company has a market capitalization of $18.52 billion, a PE ratio of 49.87, a price-to-earnings-growth ratio of 4.95 and a beta of 0.96.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The business had revenue of $1.14 billion for 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 previous year, the company earned $0.82 EPS. On average, equities analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Friday, February 14th. RB Global’s payout ratio is 57.71%.

Wall Street Analysts Forecast Growth

RBA has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price target 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. Robert W. Baird boosted their target price on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. BMO Capital Markets boosted their target price on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com lowered shares of RB Global from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, CIBC cut their target price on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.64.

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.