Peloton Wealth Strategists Makes New $257,000 Investment in RB Global, Inc. (NYSE:RBA)

Peloton Wealth Strategists bought a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,845 shares of the business services provider’s stock, valued at approximately $257,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. lifted its holdings in shares of RB Global by 9.8% during 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 purchasing an additional 753,700 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of RB Global by 309.6% during 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 in the last quarter. FMR LLC lifted its holdings in shares of RB Global by 60.5% during the 3rd quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock valued at $95,057,000 after purchasing an additional 445,004 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of RB Global by 57.1% during the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock valued at $80,076,000 after purchasing an additional 357,761 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of 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 valued at $196,109,000 after purchasing an additional 354,803 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Trading Up 0.1 %

NYSE RBA opened at $100.45 on Friday. The stock has a market capitalization of $18.56 billion, a price-to-earnings ratio of 49.97, a PEG ratio of 4.95 and a beta of 0.96. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90. The stock’s 50 day moving average price is $92.44 and its two-hundred day moving average price is $89.02. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly 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). The company 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 last year, the firm earned $0.82 EPS. As a group, analysts anticipate 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 will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Friday, February 14th. RB Global’s payout ratio is presently 57.71%.

Analyst Upgrades and Downgrades

RBA has been the topic of several recent analyst reports. StockNews.com cut RB Global from a “buy” rating to a “hold” rating in a report on Tuesday. CIBC cut their price objective on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. Raymond James boosted their target price on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Robert W. Baird boosted their target price on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, BMO Capital Markets boosted their target price on RB Global from $116.00 to $120.00 and gave the company 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average 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.