RB Global, Inc. (NYSE:RBA) Stake Reduced by Riverbridge Partners LLC

Riverbridge Partners LLC decreased its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 19.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,230,934 shares of the business services provider's stock after selling 531,401 shares during the quarter. RB Global comprises about 2.7% of Riverbridge Partners LLC's investment portfolio, making the stock its 6th largest position. Riverbridge Partners LLC owned about 1.21% of RB Global worth $201,253,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Arlington Partners LLC raised its stake in shares of RB Global by 22.3% in the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider's stock valued at $3,958,000 after acquiring an additional 8,961 shares during the period. Central Pacific Bank Trust Division purchased a new stake in RB Global in the 4th quarter worth about $27,000. CIBC Asset Management Inc raised its position in RB Global by 57.1% in the 3rd 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 during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of RB Global by 53.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider's stock worth $4,805,000 after buying an additional 20,795 shares during the period. Finally, Diversified Trust Co raised its holdings in shares of RB Global by 48.9% in the fourth quarter. Diversified Trust Co now owns 63,119 shares of the business services provider's stock worth $5,694,000 after buying an additional 20,724 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RBA shares. BMO Capital Markets increased their price target on RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Royal Bank of Canada lifted their target price on RB Global from $99.00 to $107.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. StockNews.com lowered shares of RB Global from a "buy" rating to a "hold" rating in a report on Wednesday, January 15th. Robert W. Baird lifted their price objective on shares of RB Global from $86.00 to $100.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Finally, CIBC lifted their price target on shares of RB Global from $102.00 to $109.00 and gave the company an "outperformer" rating in a research note on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, RB Global presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.36.

RB Global Stock Down 0.1 %

RBA stock traded down $0.09 during trading on Thursday, reaching $89.83. 646,392 shares of the company traded hands, compared to its average volume of 798,064. The business has a 50 day simple moving average of $93.06 and a 200 day simple moving average of $86.22. RB Global, Inc. has a 12 month low of $60.84 and a 12 month high of $99.79. 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 company has a market capitalization of $16.60 billion, a price-to-earnings ratio of 48.82, a price-to-earnings-growth ratio of 3.42 and a beta of 0.96.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, February 6th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, February 6th. RB Global's dividend payout ratio is currently 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.