RB Global, Inc. (NYSE:RBA) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd lowered its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 28.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,500 shares of the business services provider’s stock after selling 1,000 shares during the quarter. Cumberland Partners Ltd’s holdings in RB Global were worth $226,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Central Pacific Bank Trust Division acquired a new stake in RB Global during the fourth quarter worth approximately $27,000. Versant Capital Management Inc boosted its holdings in shares of RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 176 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of RB Global in the 4th quarter valued at $40,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of RB Global by 25.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 143 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of RB Global by 533.1% in the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 677 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Raymond James lifted their price target on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday. BMO Capital Markets lifted 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. Robert W. Baird lifted their price target on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com upgraded shares of RB Global from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Finally, CIBC decreased their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.64.

RB Global Stock Performance

Shares of RBA stock opened at $103.63 on Friday. The company’s fifty day simple moving average is $91.78 and its 200-day simple moving average is $88.25. RB Global, Inc. has a 52 week low of $65.99 and a 52 week high of $106.90. 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 company has a market cap of $19.14 billion, a PE ratio of 51.55, a P/E/G ratio of 4.02 and a beta of 0.96.

RB Global (NYSE:RBA) (TSE:RBA) last issued its 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 8.03%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the business posted $0.82 EPS. As a group, equities 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 will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.12%. The ex-dividend date is Friday, February 14th. RB Global’s dividend payout ratio (DPR) is 57.71%.

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.