12th Street Asset Management Company LLC Acquires 114,304 Shares of RB Global, Inc. (NYSE:RBA)

12th Street Asset Management Company LLC grew its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 51.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 335,465 shares of the business services provider's stock after buying an additional 114,304 shares during the period. RB Global accounts for 5.0% of 12th Street Asset Management Company LLC's investment portfolio, making the stock its 7th largest holding. 12th Street Asset Management Company LLC owned about 0.18% of RB Global worth $30,262,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Central Pacific Bank Trust Division acquired a new position in shares of RB Global in the 4th quarter valued at $27,000. Versant Capital Management Inc raised its position in RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock valued at $28,000 after purchasing an additional 176 shares during the last quarter. Jones Financial Companies Lllp raised its position in RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after purchasing an additional 129 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in RB Global in the 4th quarter valued at $36,000. Finally, Whipplewood Advisors LLC purchased a new stake in RB Global in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 95.37% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Raymond James upped their price target on shares of RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. CIBC reduced their price target 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. Robert W. Baird upped their price objective on shares of RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Royal Bank of Canada upped their price objective on shares of RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, StockNews.com downgraded shares of RB Global from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, RB Global has an average rating of "Moderate Buy" and an average target price of $107.64.

RB Global Price Performance

Shares of NYSE:RBA traded down $0.72 on Tuesday, reaching $97.26. 1,058,720 shares of the company were exchanged, compared to its average volume of 1,009,955. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90. The firm has a market cap of $17.97 billion, a price-to-earnings ratio of 48.39, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94. The company has a 50-day moving average of $94.65 and a 200-day moving average of $90.53.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.81 by ($0.23). The company had revenue of $1.14 billion for 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 period last year, the company earned $0.82 earnings per share. Equities analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.19%. RB Global's payout ratio is 57.71%.

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.