Oak Thistle LLC Decreases Position in RB Global, Inc. (NYSE:RBA)

Oak Thistle LLC trimmed its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 83.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,308 shares of the business services provider’s stock after selling 11,857 shares during the period. Oak Thistle LLC’s holdings in RB Global were worth $208,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. National Bank of Canada FI boosted its holdings 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 acquiring an additional 610,843 shares during the period. FMR LLC boosted its stake in shares of RB Global by 60.5% during the third 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. CIBC Asset Management Inc grew its holdings in shares of RB Global by 57.1% in the third 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. The Manufacturers Life Insurance Company increased its stake in shares of RB Global by 17.1% in the third quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock worth $196,109,000 after buying an additional 354,803 shares during the period. Finally, Canoe Financial LP raised its holdings in RB Global by 22.0% during the 3rd quarter. Canoe Financial LP now owns 1,418,666 shares of the business services provider’s stock valued at $113,900,000 after buying an additional 255,484 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Robert W. Baird boosted their price target on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. StockNews.com cut RB Global from a “buy” rating to a “hold” rating in a report on Wednesday. CIBC boosted their target price on RB Global from $102.00 to $109.00 and gave the company an “outperformer” rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets raised their price target on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, RB Global currently has a consensus rating of “Moderate Buy” and an average target price of $100.36.

RB Global Stock Down 0.7 %

Shares of NYSE:RBA opened at $89.24 on Friday. The firm has a market capitalization of $16.49 billion, a P/E ratio of 48.50, a P/E/G ratio of 3.34 and a beta of 0.96. 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 50 day moving average price of $93.22 and a 200-day moving average price of $85.89. RB Global, Inc. has a 52-week low of $60.84 and a 52-week high of $99.79.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.30%. RB Global’s dividend payout ratio (DPR) is 63.04%.

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.