Park Avenue Securities LLC Acquires 658 Shares of RB Global, Inc. (NYSE:RBA)

Park Avenue Securities LLC raised its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,082 shares of the business services provider’s stock after buying an additional 658 shares during the quarter. Park Avenue Securities LLC’s holdings in RB Global were worth $729,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Arlington Partners LLC raised its stake in shares of RB Global by 22.3% during the 3rd quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock valued at $3,958,000 after purchasing an additional 8,961 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of RB Global in the 4th quarter worth about $27,000. CIBC Asset Management Inc boosted its holdings in RB Global by 57.1% during the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock valued at $80,076,000 after acquiring an additional 357,761 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in RB Global by 53.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock valued at $4,805,000 after acquiring an additional 20,795 shares during the period. Finally, Diversified Trust Co raised its position in RB Global by 48.9% during the 4th quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock valued at $5,694,000 after purchasing an additional 20,724 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RBA has been the subject of several research reports. CIBC increased their target price on RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a research report on Thursday, December 12th. BMO Capital Markets increased their target price on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Royal Bank of Canada raised 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. Robert W. Baird raised their target price on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, StockNews.com cut RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.36.

RB Global Trading Up 1.7 %

RBA opened at $90.80 on Wednesday. The firm has a market cap of $16.77 billion, a P/E ratio of 49.35, a P/E/G ratio of 3.36 and a beta of 0.96. RB Global, Inc. has a 12 month low of $60.84 and a 12 month high of $99.79. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average of $93.09 and a 200 day moving average of $86.19.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, February 6th will be given a $0.29 dividend. The ex-dividend date is Thursday, February 6th. This represents a $1.16 annualized dividend and a yield of 1.28%. RB Global’s dividend payout ratio is currently 63.04%.

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.