Wealthfront Advisers LLC Makes New $13.48 Million Investment in RB Global, Inc. (NYSE:RBA)

Wealthfront Advisers LLC purchased a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 149,438 shares of the business services provider’s stock, valued at approximately $13,481,000.

A number of other hedge funds have also modified their holdings of RBA. Central Pacific Bank Trust Division purchased a new position in shares of RB Global in the fourth quarter valued at approximately $27,000. CIBC Asset Management Inc grew its stake in RB Global by 57.1% during 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 in the last quarter. Diversified Trust Co lifted its holdings in RB Global by 48.9% during the 4th 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 lifted its holdings in shares of RB Global by 53.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock valued at $4,805,000 after purchasing an additional 20,795 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its position in RB Global by 163.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 400 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Stock Down 1.1 %

RBA opened at $98.46 on Wednesday. RB Global, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. 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 $18.19 billion, a P/E ratio of 48.98, a P/E/G ratio of 4.95 and a beta of 0.94. The stock has a fifty day moving average of $94.05 and a 200-day moving average of $90.15.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the firm posted $0.82 earnings per share. On average, equities analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. RB Global’s payout ratio is currently 57.71%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. StockNews.com cut RB Global from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Robert W. Baird increased their price objective on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Raymond James lifted their price target on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. CIBC dropped their target price on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. Finally, BMO Capital Markets boosted their price objective 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, RB Global currently 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.