RB Global, Inc. (NYSE:RBA) Shares Purchased by 12th Street Asset Management Company LLC

by · The Cerbat Gem

12th Street Asset Management Company LLC boosted its stake in RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA) by 51.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 335,465 shares of the business services provider’s stock after purchasing an additional 114,304 shares during the period. RB Global comprises approximately 5.0% of 12th Street Asset Management Company LLC’s portfolio, making the stock its 7th largest position. 12th Street Asset Management Company LLC’s holdings in RB Global were worth $30,262,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division acquired a new position in shares of RB Global in the fourth quarter worth $27,000. Versant Capital Management Inc grew its stake in shares of RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after acquiring an additional 176 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after acquiring an additional 129 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of RB Global in the fourth quarter worth $36,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of RB Global in the fourth quarter worth $37,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Price Performance

Shares of RBA opened at $94.43 on Friday. RB Global, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90. The stock has a market cap of $17.44 billion, a PE ratio of 46.98, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The firm has a fifty day moving average price of $94.36 and a 200 day moving average price of $90.29.

RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last announced its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share 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 company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the firm earned $0.82 earnings per share. As a group, sell-side analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.23%. RB Global’s dividend payout ratio (DPR) is presently 57.71%.

Wall Street Analyst Weigh In

RBA has been the subject of several research reports. CIBC dropped their price target 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. BMO Capital Markets boosted their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Robert W. Baird lifted their price objective on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com cut shares of RB Global from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Raymond James lifted their price objective 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, RB Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.64.

View Our Latest Report on RB Global

RB Global Profile

(Free Report)

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.

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