Principal Financial Group Inc. Has $38.13 Million Holdings in RB Global, Inc. (NYSE:RBA)

Principal Financial Group Inc. decreased its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 0.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 422,657 shares of the business services provider's stock after selling 3,980 shares during the period. Principal Financial Group Inc. owned about 0.23% of RB Global worth $38,128,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RBA. Weil Company Inc. boosted its position in shares of RB Global by 1.2% in the third quarter. Weil Company Inc. now owns 11,330 shares of the business services provider's stock worth $912,000 after buying an additional 132 shares during the period. Summit Trail Advisors LLC lifted its stake in RB Global by 4.6% in the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider's stock worth $279,000 after acquiring an additional 137 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in RB Global by 25.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider's stock worth $64,000 after acquiring an additional 143 shares during the period. Blue Trust Inc. grew its stake in RB Global by 11.9% during the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider's stock valued at $113,000 after acquiring an additional 157 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of 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 period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

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RB Global Stock Down 1.5 %

NYSE RBA traded down $1.59 during trading on Tuesday, hitting $101.25. 994,985 shares of the company traded hands, compared to its average volume of 1,059,580. RB Global, Inc. has a 12 month low of $69.83 and a 12 month high of $106.90. The business has a fifty day simple moving average of $92.25 and a 200 day simple moving average of $88.94. The company has a market capitalization of $18.70 billion, a P/E ratio of 50.37, a PEG ratio of 4.95 and a beta of 0.96. 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 (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period in the previous year, the business posted $0.82 earnings per share. As a group, sell-side analysts predict that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, February 14th. RB Global's dividend payout ratio is currently 57.71%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RBA shares. Robert W. Baird raised their price target 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. Royal Bank of Canada lifted their target price on shares of RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. BMO Capital Markets upped their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. StockNews.com cut RB Global from a "buy" rating to a "hold" rating in a research report on Tuesday. Finally, Raymond James raised their price target on RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $107.64.

About RB Global

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.