M&T Bank Corp Lowers Position in RB Global, Inc. (NYSE:RBA)

M&T Bank Corp lowered its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 18.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 31,598 shares of the business services provider's stock after selling 7,330 shares during the quarter. M&T Bank Corp's holdings in RB Global were worth $2,850,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in RBA. Wealth Enhancement Advisory Services LLC grew its stake in RB Global by 7.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,131 shares of the business services provider's stock valued at $333,000 after acquiring an additional 273 shares during the period. QRG Capital Management Inc. acquired a new stake in RB Global in the 3rd quarter valued at $204,000. Hollencrest Capital Management grew its stake in RB Global by 99.8% in the 3rd quarter. Hollencrest Capital Management now owns 875 shares of the business services provider's stock valued at $70,000 after acquiring an additional 437 shares during the period. Covestor Ltd grew its stake in RB Global by 533.1% in the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider's stock valued at $65,000 after acquiring an additional 677 shares during the period. Finally, Kampmann Melissa S. grew its stake in RB Global by 1.4% in the 3rd quarter. Kampmann Melissa S. now owns 33,080 shares of the business services provider's stock valued at $2,663,000 after acquiring an additional 465 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

RB Global Stock Up 1.7 %

NYSE RBA opened at $101.36 on Friday. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The business's fifty day simple moving average is $93.87 and its 200-day simple moving average is $89.96. The firm has a market cap of $18.73 billion, a PE ratio of 50.43, a P/E/G ratio of 4.95 and a beta of 0.94.

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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 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. As a group, equities analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.14%. RB Global's dividend payout ratio is presently 57.71%.

Wall Street Analyst Weigh In

RBA has been the topic of a number of research analyst reports. BMO Capital Markets lifted their price target on shares of RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Royal Bank of Canada raised their price objective on RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. CIBC decreased their price objective on RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a report on Monday, February 3rd. Robert W. Baird raised their price objective on RB Global from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, StockNews.com lowered RB Global from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, RB Global currently has a consensus rating of "Moderate Buy" and an average 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.

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