Bank of New York Mellon Corp Cuts Holdings in RB Global, Inc. (NYSE:RBA)

Bank of New York Mellon Corp reduced its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.1% in the 4th quarter, HoldingsChannel reports. The fund owned 1,202,017 shares of the business services provider’s stock after selling 13,289 shares during the quarter. Bank of New York Mellon Corp’s holdings in RB Global were worth $108,434,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new position in shares of RB Global during the 4th quarter worth about $27,000. Versant Capital Management Inc boosted its position in shares of RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after acquiring an additional 176 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of RB Global during the 4th quarter worth about $40,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of RB Global by 25.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock worth $64,000 after acquiring an additional 143 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of RB Global by 533.1% during the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock worth $65,000 after acquiring an additional 677 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Trading Up 1.9 %

Shares of RBA stock opened at $102.33 on Friday. The business’s 50 day moving average is $92.86 and its two-hundred day moving average is $89.27. RB Global, Inc. has a twelve month low of $69.83 and a twelve month high of $106.90. The company has a market capitalization of $18.90 billion, a P/E ratio of 50.91, a price-to-earnings-growth ratio of 4.95 and a beta of 0.96. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the business posted $0.82 earnings per share. Equities analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.13%. RB Global’s dividend payout ratio (DPR) is currently 57.71%.

Analysts Set New Price Targets

A number of analysts recently issued reports on RBA shares. BMO Capital Markets upped their target price on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. CIBC decreased their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. StockNews.com cut RB Global from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Raymond James upped their target price on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird upped their target price on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RB Global has a consensus rating of “Moderate Buy” and an average price target of $107.64.

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.