Tobam Has $3.74 Million Position in RB Global, Inc. (NYSE:RBA)

Tobam trimmed its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 29.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,445 shares of the business services provider's stock after selling 17,602 shares during the period. Tobam's holdings in RB Global were worth $3,739,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp raised its position in shares of RB Global by 2.1% during the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider's stock worth $406,087,000 after purchasing an additional 103,080 shares during the period. Geode Capital Management LLC raised its holdings in shares of RB Global by 3.0% during the third quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider's stock worth $297,400,000 after acquiring an additional 108,188 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of RB Global by 0.7% during the 3rd quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider's stock worth $272,293,000 after purchasing an additional 24,101 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of RB Global by 17.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider's stock valued at $196,109,000 after purchasing an additional 354,803 shares during the last quarter. Finally, Canoe Financial LP increased its position in RB Global by 22.0% during the third quarter. Canoe Financial LP now owns 1,418,666 shares of the business services provider's stock worth $113,900,000 after buying an additional 255,484 shares during the last quarter. Institutional investors own 95.37% of the company's stock.

RB Global Trading Down 0.4 %

NYSE:RBA traded down $0.40 on Tuesday, hitting $93.08. 390,321 shares of the stock were exchanged, compared to its average volume of 904,441. RB Global, Inc. has a 52 week low of $65.79 and a 52 week high of $99.79. The company's 50-day moving average price is $91.67 and its 200 day moving average price is $87.30. 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 $17.19 billion, a price-to-earnings ratio of 50.50, a P/E/G ratio of 3.82 and a beta of 0.96.

RB Global Dividend Announcement

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 given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Friday, February 14th. RB Global's payout ratio is 63.04%.

Analyst Ratings Changes

Several research firms have recently issued reports on RBA. Royal Bank of Canada upped their price target on RB Global from $99.00 to $107.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. StockNews.com upgraded RB Global from a "hold" rating to a "buy" rating in a report on Monday, January 27th. 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 report on Monday, November 11th. BMO Capital Markets lifted their target price on shares of RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Finally, CIBC reduced their price objective on RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $100.21.

RB Global Company 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.