Longboard Asset Management LP Makes New $231,000 Investment in RB Global, Inc. (NYSE:RBA)

Longboard Asset Management LP bought a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 4th quarter, HoldingsChannel.com reports. The firm bought 2,564 shares of the business services provider’s stock, valued at approximately $231,000.

A number of other hedge funds also recently modified their holdings of RBA. State Street Corp raised its position in RB Global by 2.1% during the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock valued at $406,087,000 after buying an additional 103,080 shares during the period. Geode Capital Management LLC grew its stake in RB Global by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider’s stock valued at $297,400,000 after acquiring an additional 108,188 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of RB Global by 0.7% in 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 period. The Manufacturers Life Insurance Company increased its holdings in shares of RB Global by 17.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock valued at $196,109,000 after purchasing an additional 354,803 shares during the period. Finally, Canoe Financial LP lifted its position in shares of RB Global by 22.0% in the third quarter. Canoe Financial LP now owns 1,418,666 shares of the business services provider’s stock worth $113,900,000 after purchasing an additional 255,484 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Royal Bank of Canada boosted their price target on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. BMO Capital Markets increased their price objective on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. StockNews.com raised RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Finally, CIBC dropped their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.21.

RB Global Trading Down 1.1 %

RB Global stock opened at $88.46 on Tuesday. RB Global, Inc. has a one year low of $63.13 and a one year high of $99.79. The company’s fifty day moving average price is $92.32 and its two-hundred day moving average price is $86.89. 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 company has a market capitalization of $16.34 billion, a price-to-earnings ratio of 48.07, a PEG ratio of 3.73 and a beta of 0.96.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, February 6th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $1.16 dividend on an annualized basis and a yield of 1.31%. RB Global’s payout ratio is currently 63.04%.

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.