RB Global (NYSE:RBA) Sees Strong Trading Volume – Here’s Why

RB Global, Inc. (NYSE:RBA) (TSE:RBA) shares saw strong trading volume on Tuesday . 437,057 shares changed hands during mid-day trading, a decline of 21% from the previous session’s volume of 553,405 shares.The stock last traded at $90.01 and had previously closed at $89.39.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. BMO Capital Markets upped their price target on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Royal Bank of Canada raised their target price on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. CIBC increased their price target on RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a report on Thursday, December 12th. Robert W. Baird lifted their price target on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, StockNews.com raised RB Global from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.36.

RB Global Trading Down 0.4 %

The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. The firm has a market capitalization of $16.45 billion, a PE ratio of 48.39, a PEG ratio of 4.56 and a beta of 0.96. The firm’s fifty day moving average is $93.20 and its two-hundred day moving average is $85.65.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Wednesday, November 27th. RB Global’s dividend payout ratio is currently 63.04%.

Institutional Investors Weigh In On RB Global

A number of hedge funds have recently modified their holdings of the stock. Weil Company Inc. raised its stake in shares of RB Global by 1.2% in the third quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock valued at $912,000 after buying an additional 132 shares during the period. Blue Trust Inc. lifted its holdings in shares of RB Global by 11.9% in the third quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock worth $113,000 after buying an additional 157 shares in the last quarter. Versant Capital Management Inc grew its stake in RB Global by 136.4% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 176 shares in the last quarter. CWM LLC increased its holdings in RB Global by 6.3% during the 3rd quarter. CWM LLC now owns 3,956 shares of the business services provider’s stock worth $318,000 after acquiring an additional 235 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in RB Global by 30.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,020 shares of the business services provider’s stock worth $78,000 after acquiring an additional 241 shares during the period. Institutional investors own 95.37% of the company’s stock.

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.