Bank of New York Mellon Corp Sells 13,289 Shares of RB Global, Inc. (NYSE:RBA)

Bank of New York Mellon Corp cut its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,202,017 shares of the business services provider's stock after selling 13,289 shares during the quarter. Bank of New York Mellon Corp owned about 0.65% of RB Global worth $108,434,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in RB Global during the fourth quarter worth $27,000. Versant Capital Management Inc raised 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 buying an additional 176 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in shares of RB Global during the 4th quarter valued at about $40,000. MassMutual Private Wealth & Trust FSB lifted its stake in RB Global by 25.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider's stock worth $64,000 after purchasing an additional 143 shares during the last quarter. Finally, Covestor Ltd boosted its position in RB Global by 533.1% during the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider's stock valued at $65,000 after buying an additional 677 shares during the period. Institutional investors own 95.37% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RBA. Raymond James boosted 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 note on Tuesday, February 25th. CIBC lowered their price objective on shares of 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 upped their target price on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada raised their price target on RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a 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 stock. Based on data from MarketBeat, RB Global currently has an average rating of "Moderate Buy" and a consensus target price of $107.64.

RB Global Price Performance

RB Global stock traded down $0.55 during mid-day trading on Wednesday, hitting $100.11. 900,045 shares of the company were exchanged, compared to its average volume of 1,058,287. The company has a market capitalization of $18.49 billion, a P/E ratio of 49.81, a PEG ratio of 4.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The business's 50 day simple moving average is $93.31 and its two-hundred day simple moving average is $89.69. RB Global, Inc. has a 12-month low of $69.83 and a 12-month high of $106.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) 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 analyst estimates of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same quarter last year, the business posted $0.82 EPS. Analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.29 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.16%. RB Global's dividend payout ratio (DPR) is presently 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.