Zurcher Kantonalbank Zurich Cantonalbank Sells 3,029 Shares of RB Global, Inc. (NYSE:RBA)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 4.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 66,504 shares of the business services provider's stock after selling 3,029 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in RB Global were worth $5,999,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of RB Global during the fourth quarter worth approximately $266,148,000. Vontobel Holding Ltd. increased its position in RB Global by 9.8% during the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock worth $762,378,000 after acquiring an additional 753,700 shares during the period. National Bank of Canada FI raised its stake in RB Global by 309.6% during the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider's stock valued at $65,014,000 after purchasing an additional 610,843 shares during the last quarter. FMR LLC boosted its holdings in RB Global by 60.5% in the 3rd quarter. FMR LLC now owns 1,180,975 shares of the business services provider's stock valued at $95,057,000 after purchasing an additional 445,004 shares during the period. Finally, CIBC Asset Management Inc grew 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 last quarter. Institutional investors own 95.37% of the company's stock.

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Analyst Ratings Changes

RBA has been the subject of a number of research analyst reports. Robert W. Baird upped their price objective on shares of RB Global from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. StockNews.com downgraded RB Global from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Royal Bank of Canada boosted their price objective on RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Raymond James raised their target price on RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, BMO Capital Markets boosted their price target 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.64.

RB Global Price Performance

NYSE:RBA traded down $0.72 during trading hours on Tuesday, reaching $97.26. The company had a trading volume of 1,058,720 shares, compared to its average volume of 1,009,955. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $94.65 and a two-hundred day moving average of $90.53. RB Global, Inc. has a one year low of $69.83 and a one year high of $106.90. The firm has a market capitalization of $17.97 billion, a PE ratio of 48.39, a PEG ratio of 4.95 and a beta of 0.94.

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

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Friday, February 14th. RB Global's dividend payout ratio (DPR) is currently 57.71%.

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.