Raymond James Financial Inc. Invests $266.15 Million in RB Global, Inc. (NYSE:RBA)

Raymond James Financial Inc. purchased a new stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,950,312 shares of the business services provider's stock, valued at approximately $266,148,000. Raymond James Financial Inc. owned 1.60% of RB Global at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Central Pacific Bank Trust Division purchased a new position in RB Global in the 4th quarter valued at approximately $27,000. Versant Capital Management Inc increased its stake in 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 in the last quarter. Jones Financial Companies Lllp increased its stake in RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after purchasing an additional 129 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in RB Global in the 4th quarter valued at approximately $36,000. Finally, Whipplewood Advisors LLC purchased a new position in RB Global during the fourth quarter worth $37,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RBA has been the subject of several recent research reports. 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 report on Wednesday, February 19th. StockNews.com downgraded RB Global from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. CIBC dropped their price target on RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a research report on Monday, February 3rd. BMO Capital Markets raised their price target on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird raised their price objective on RB Global from $105.00 to $110.00 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 company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $107.64.

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RB Global Stock Up 1.7 %

Shares of NYSE RBA traded up $1.71 during midday trading on Friday, reaching $101.36. 990,634 shares of the company's stock were exchanged, compared to its average volume of 1,055,094. RB Global, Inc. has a 52-week low of $69.83 and a 52-week high of $106.90. The stock has a market capitalization of $18.73 billion, a PE ratio of 50.43, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The business's fifty day moving average price is $93.87 and its two-hundred day moving average price is $89.96.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings data 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 firm 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 prior year, the firm earned $0.82 earnings per share. Analysts forecast 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 was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Friday, February 14th. RB Global's dividend payout ratio is currently 57.71%.

RB Global 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.