K.J. Harrison & Partners Inc Decreases Stock Position in RB Global, Inc. (NYSE:RBA)

K.J. Harrison & Partners Inc decreased its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 7.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,275 shares of the business services provider's stock after selling 8,060 shares during the quarter. RB Global accounts for 1.3% of K.J. Harrison & Partners Inc's portfolio, making the stock its 15th largest position. K.J. Harrison & Partners Inc owned about 0.05% of RB Global worth $8,511,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RBA. Creative Planning grew its holdings in shares of RB Global by 27.6% during the third quarter. Creative Planning now owns 19,811 shares of the business services provider's stock valued at $1,595,000 after buying an additional 4,285 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of RB Global during the third quarter valued at approximately $1,057,000. Assenagon Asset Management S.A. grew its holdings in shares of RB Global by 8.3% during the third quarter. Assenagon Asset Management S.A. now owns 10,141 shares of the business services provider's stock valued at $817,000 after buying an additional 781 shares during the last quarter. Forsta AP Fonden boosted its holdings in 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 purchasing an additional 6,000 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in RB Global by 7.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,131 shares of the business services provider's stock worth $333,000 after purchasing an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages recently issued reports on RBA. Raymond James raised their target price on shares of RB Global from $110.00 to $118.00 and gave the stock 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. BMO Capital Markets raised their target price on shares of RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Robert W. Baird raised their target price on shares of RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada raised their target price on shares of RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $107.64.

RB Global Stock Performance

Shares of RB Global stock traded up $1.90 on Friday, hitting $102.33. 1,321,986 shares of the company's stock were exchanged, compared to its average volume of 1,060,700. The company has a 50-day simple moving average of $92.86 and a 200-day simple moving average of $89.35. The stock has a market capitalization of $18.90 billion, a PE ratio of 50.91, a PEG ratio of 4.95 and a beta of 0.96. RB Global, Inc. has a 1 year low of $69.83 and a 1 year 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.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 8.00% and a net margin of 9.64%. During the same quarter in the prior year, the business earned $0.82 EPS. As a group, equities analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.13%. RB Global's payout ratio is 57.71%.

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.