First Horizon Advisors Inc. Cuts Position in RB Global, Inc. (NYSE:RBA)

First Horizon Advisors Inc. lowered its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,756 shares of the business services provider’s stock after selling 207 shares during the period. First Horizon Advisors Inc.’s holdings in RB Global were worth $158,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Vontobel Holding Ltd. boosted its holdings in RB Global by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after acquiring an additional 753,700 shares in the last quarter. National Bank of Canada FI raised its position in shares of RB Global by 309.6% in the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock valued at $65,014,000 after purchasing an additional 610,843 shares during the last quarter. FMR LLC boosted its stake in RB Global by 60.5% in the 3rd quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock worth $95,057,000 after purchasing an additional 445,004 shares in the last quarter. CIBC Asset Management Inc boosted its stake in RB Global by 57.1% in the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after purchasing an additional 357,761 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in RB Global by 17.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock worth $196,109,000 after purchasing an additional 354,803 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RBA. StockNews.com cut RB Global from a “buy” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets lifted their target price on 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 increased their price target on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Raymond James raised their price target on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird upped their price objective on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, RB Global has an average rating of “Moderate Buy” and an average target price of $107.64.

RB Global Stock Performance

NYSE:RBA opened at $101.25 on Wednesday. RB Global, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The company has a 50 day moving average price of $92.25 and a 200 day moving average price of $88.94. The stock has a market capitalization of $18.70 billion, a P/E ratio of 50.37, a PEG ratio of 4.95 and a beta of 0.96.

RB Global (NYSE:RBA) (TSE:RBA) last issued 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 business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period in the prior year, the company posted $0.82 EPS. Equities research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.15%. The ex-dividend date is Friday, February 14th. RB Global’s dividend payout ratio (DPR) is presently 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.