Short Interest in RB Global, Inc. (NYSE:RBA) Declines By 30.6%

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 3,400,000 shares, a decrease of 30.6% from the January 15th total of 4,900,000 shares. Based on an average daily trading volume, of 874,400 shares, the short-interest ratio is presently 3.9 days. Currently, 1.9% of the shares of the company are sold short.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of RB Global from $86.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. CIBC reduced their price target on RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a report on Monday, February 3rd. BMO Capital Markets raised their price objective on RB Global from $105.00 to $107.00 and gave the company an "outperform" rating in a report on Monday, November 11th. StockNews.com upgraded RB Global from a "hold" rating to a "buy" rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada upped their price objective on shares of RB Global from $99.00 to $107.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $100.21.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RBA. CoreCap Advisors LLC boosted its stake in RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after buying an additional 117 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of RB Global during the 4th quarter worth $27,000. Versant Capital Management Inc boosted its position in shares of RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock valued at $28,000 after acquiring an additional 176 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after acquiring an additional 129 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of RB Global in the fourth quarter valued at about $36,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Price Performance

Shares of NYSE RBA traded up $0.30 during mid-day trading on Tuesday, reaching $96.60. The company's stock had a trading volume of 1,963,991 shares, compared to its average volume of 949,202. The stock has a 50-day moving average of $91.45 and a two-hundred day moving average of $87.87. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. The stock has a market capitalization of $17.84 billion, a P/E ratio of 52.50, a P/E/G ratio of 3.82 and a beta of 0.96. RB Global has a 1-year low of $65.99 and a 1-year high of $99.79.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Friday, February 14th. RB Global's dividend payout ratio (DPR) is 63.04%.

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.