Wealthfront Advisers LLC Makes New $13.48 Million Investment in RB Global, Inc. (NYSE:RBA)

Wealthfront Advisers LLC acquired a new position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 149,438 shares of the business services provider's stock, valued at approximately $13,481,000. Wealthfront Advisers LLC owned 0.08% of RB Global at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Central Pacific Bank Trust Division acquired a new stake in shares of RB Global during the fourth quarter worth about $27,000. Versant Capital Management Inc lifted its holdings 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 acquiring an additional 176 shares in the last quarter. Jones Financial Companies Lllp increased its stake in RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after buying an additional 129 shares during the period. Whipplewood Advisors LLC purchased a new stake in RB Global during the 4th quarter worth $37,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of RB Global in the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 95.37% of the company's stock.

RB Global Trading Down 1.1 %

Shares of RB Global stock opened at $98.46 on Wednesday. RB Global, Inc. has a 52-week low of $69.83 and a 52-week high of $106.90. The stock's 50-day simple moving average is $94.05 and its 200 day simple moving average is $90.15. The stock has a market capitalization of $18.19 billion, a P/E ratio of 48.98, a P/E/G ratio of 4.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

Remove Ads

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts' consensus estimates of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the business earned $0.82 earnings per share. As a group, research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.18%. RB Global's dividend payout ratio is currently 57.71%.

Wall Street Analyst Weigh In

RBA has been the subject of several recent analyst reports. BMO Capital Markets increased their price objective on shares of RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Raymond James raised their price target on shares of RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. CIBC dropped their target price on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a research note on Monday, February 3rd. StockNews.com cut shares of RB Global from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada upped their price target on shares of RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, RB Global has a consensus rating of "Moderate Buy" and a consensus price target of $107.64.

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.

Want to see what other hedge funds are holding RBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.