Zurcher Kantonalbank Zurich Cantonalbank Has $6 Million Stake in RB Global, Inc. (NYSE:RBA)

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,504 shares of the business services provider’s stock after selling 3,029 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in RB Global were worth $5,999,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Vontobel Holding Ltd. grew its holdings in RB Global by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after buying an additional 753,700 shares during the last quarter. State Street Corp grew its stake in shares of RB Global by 2.1% in the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock worth $406,087,000 after acquiring an additional 103,080 shares during the last quarter. Geode Capital Management LLC increased its position in RB Global by 3.0% during the third quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider’s stock worth $297,400,000 after acquiring an additional 108,188 shares during the period. Janus Henderson Group PLC raised its stake in RB Global by 0.7% during the 3rd quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider’s stock valued at $272,293,000 after purchasing an additional 24,101 shares during the last quarter. Finally, Fiera Capital Corp boosted its holdings in RB Global by 4.1% in the 4th quarter. Fiera Capital Corp now owns 3,216,507 shares of the business services provider’s stock valued at $290,000,000 after purchasing an additional 125,275 shares during the period. 95.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RBA has been the topic of several research reports. BMO Capital Markets boosted their price objective on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Royal Bank of Canada upped their price target on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird raised their price objective on 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 lowered RB Global from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Raymond James lifted their price target on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $107.64.

RB Global Price Performance

Shares of RBA stock opened at $95.81 on Friday. The stock’s fifty day simple moving average is $94.45 and its 200 day simple moving average is $90.32. RB Global, Inc. has a one year low of $69.83 and a one year high of $106.90. The firm has a market cap of $17.70 billion, a price-to-earnings ratio of 47.66, a P/E/G 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.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.23). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period in the prior year, the business earned $0.82 earnings per share. On average, analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.21%. RB Global’s dividend payout ratio (DPR) is presently 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.