Proficio Capital Partners LLC Takes $36,000 Position in RB Global, Inc. (NYSE:RBA)

Proficio Capital Partners LLC acquired a new stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 35,813 shares of the business services provider's stock, valued at approximately $36,000.

Other large investors have also modified their holdings of the company. Central Pacific Bank Trust Division acquired a new stake in shares of RB Global in the fourth quarter valued at approximately $27,000. CIBC Asset Management Inc grew its stake in shares of RB Global by 57.1% in the third quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider's stock worth $80,076,000 after purchasing an additional 357,761 shares in the last quarter. Diversified Trust Co increased its holdings 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 during the period. Teachers Retirement System of The State of Kentucky raised its stake 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, Vontobel Holding Ltd. raised its stake in shares of RB Global by 9.8% during the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock valued at $762,378,000 after purchasing an additional 753,700 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

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RB Global Stock Up 2.3 %

NYSE:RBA traded up $2.17 during trading hours on Monday, hitting $97.98. 3,028,580 shares of the stock traded hands, compared to its average volume of 1,010,038. The firm has a 50 day moving average price of $94.52 and a 200 day moving average price of $90.44. The firm has a market cap of $18.10 billion, a price-to-earnings ratio of 48.75, a PEG ratio of 4.95 and a beta of 0.94. RB Global, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. 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 posted 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). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. Equities research 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. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Friday, February 14th. RB Global's dividend payout ratio is currently 57.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RBA shares. CIBC lowered their target price on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada raised their price objective on shares of RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Raymond James boosted 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. 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, BMO Capital Markets lifted their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.