Assenagon Asset Management S.A. Cuts Holdings in RB Global, Inc. (NYSE:RBA)

Assenagon Asset Management S.A. reduced its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 30.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,085 shares of the business services provider's stock after selling 3,056 shares during the quarter. Assenagon Asset Management S.A.'s holdings in RB Global were worth $639,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Arlington Partners LLC increased its stake in RB Global by 22.3% in the 3rd quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider's stock worth $3,958,000 after buying an additional 8,961 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of RB Global during the fourth quarter valued at about $27,000. CIBC Asset Management Inc grew its position in shares of RB Global by 57.1% during the third quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider's stock valued at $80,076,000 after purchasing an additional 357,761 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of RB Global by 53.5% during the third 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 in the last quarter. Finally, Diversified Trust Co grew its position in shares of RB Global by 48.9% during the fourth quarter. Diversified Trust Co now owns 63,119 shares of the business services provider's stock valued at $5,694,000 after purchasing an additional 20,724 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

RB Global Trading Up 0.5 %

NYSE RBA traded up $0.45 during trading on Friday, hitting $90.33. The stock had a trading volume of 694,688 shares, compared to its average volume of 625,115. The stock has a 50 day simple moving average of $92.96 and a 200 day simple moving average of $86.41. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. RB Global, Inc. has a one year low of $60.84 and a one year high of $99.79. The stock has a market capitalization of $16.69 billion, a price-to-earnings ratio of 49.09, a P/E/G ratio of 3.39 and a beta of 0.96.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, February 6th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Thursday, February 6th. RB Global's dividend payout ratio is presently 63.04%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Robert W. Baird lifted their price target on RB Global from $86.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. BMO Capital Markets lifted their price target on RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Royal Bank of Canada lifted their price target on RB Global from $99.00 to $107.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. CIBC lifted their price target on RB Global from $102.00 to $109.00 and gave the stock an "outperformer" rating in a research report on Thursday, December 12th. Finally, StockNews.com downgraded shares of RB Global from a "buy" rating to a "hold" rating in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $100.36.

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.