RB Global (NYSE:RBA) Sees Unusually-High Trading Volume - What's Next?

Shares of RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA saw unusually-high trading volume on Tuesday . Approximately 437,057 shares traded hands during trading, a decline of 21% from the previous session's volume of 553,405 shares.The stock last traded at $90.01 and had previously closed at $89.39.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. StockNews.com raised shares of RB Global from a "hold" rating to a "buy" rating in a research report on Tuesday, January 7th. Robert W. Baird raised their price target on RB Global from $86.00 to $100.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. BMO Capital Markets increased their price objective on RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. CIBC lifted their target price on RB Global from $102.00 to $109.00 and gave the company an "outperformer" rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada raised their price objective on shares of RB Global from $99.00 to $107.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $100.36.

RB Global Trading Down 0.1 %

The firm's 50-day simple moving average is $93.20 and its 200-day simple moving average is $85.65. The firm has a market capitalization of $16.50 billion, a P/E ratio of 48.55, a price-to-earnings-growth ratio of 4.56 and a beta of 0.96. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Wednesday, November 27th. RB Global's payout ratio is currently 63.04%.

Institutional Investors Weigh In On RB Global

A number of hedge funds have recently made changes to their positions in the business. Central Pacific Bank Trust Division purchased a new stake in shares of RB Global during the fourth quarter worth about $27,000. Versant Capital Management Inc lifted its holdings 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 worth $28,000 after buying an additional 176 shares during the period. UMB Bank n.a. grew its position in shares of RB Global by 196.0% in the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider's stock worth $47,000 after buying an additional 388 shares during the last quarter. Quarry LP bought a new stake in shares of RB Global in the 2nd quarter worth approximately $53,000. Finally, Covestor Ltd increased its stake in shares of RB Global by 533.1% during the third 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. 95.37% of the stock is currently owned by institutional investors.

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.