Rice Hall James & Associates LLC Cuts Stock Holdings in RB Global, Inc. (NYSE:RBA)

Rice Hall James & Associates LLC trimmed its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,652 shares of the business services provider's stock after selling 8,392 shares during the quarter. Rice Hall James & Associates LLC owned approximately 0.09% of RB Global worth $14,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in RBA. CWM LLC raised its position in shares of RB Global by 6.3% during the third quarter. CWM LLC now owns 3,956 shares of the business services provider's stock worth $318,000 after acquiring an additional 235 shares during the last quarter. Creative Planning raised its position in shares of RB Global by 27.6% during the third quarter. Creative Planning now owns 19,811 shares of the business services provider's stock worth $1,595,000 after acquiring an additional 4,285 shares during the last quarter. Blue Trust Inc. raised its position in shares of RB Global by 11.9% during the third quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider's stock worth $113,000 after acquiring an additional 157 shares during the last quarter. Arlington Partners LLC raised its position in shares of RB Global by 22.3% during the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider's stock worth $3,958,000 after acquiring an additional 8,961 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of RB Global by 21.3% during the third quarter. Signaturefd LLC now owns 3,699 shares of the business services provider's stock worth $298,000 after acquiring an additional 649 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday. StockNews.com upgraded RB Global from a "hold" rating to a "buy" rating in a report on Monday, January 27th. Raymond James lifted their target price on RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a report on Wednesday. Robert W. Baird lifted their target price on RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, Royal Bank of Canada lifted their target price on RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a report on Wednesday. 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $107.64.

RB Global Stock Down 0.9 %

Shares of NYSE RBA traded down $0.92 during midday trading on Friday, hitting $102.61. 1,260,994 shares of the stock traded hands, compared to its average volume of 1,047,941. The company has a market cap of $18.95 billion, a PE ratio of 51.05, a P/E/G ratio of 4.36 and a beta of 0.96. RB Global, Inc. has a one year low of $67.15 and a one year high of $106.90. The business has a 50 day moving average price of $91.94 and a two-hundred day moving average price of $88.46. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.23). The firm had revenue of $1.14 billion for 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 quarter in the prior year, the firm earned $0.82 EPS. On average, equities analysts predict 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 will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.13%. RB Global's dividend payout ratio is 57.71%.

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.