RB Global, Inc. (NYSE:RBA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,202,017 shares of the business services provider’s stock after selling 13,289 shares during the period. Bank of New York Mellon Corp owned 0.65% of RB Global worth $108,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

RB Global Stock Performance

Shares of RB Global stock opened at $102.33 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The firm has a market cap of $18.90 billion, a PE ratio of 50.91, a price-to-earnings-growth 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 business’s fifty day simple moving average is $92.86 and its 200-day simple moving average is $89.27.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data 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 firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same quarter in the prior year, the firm posted $0.82 EPS. Equities analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 1.13%. RB Global’s dividend payout ratio (DPR) is 57.71%.

Wall Street Analysts Forecast Growth

RBA has been the topic of a number of recent research reports. CIBC lowered their price objective on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. StockNews.com lowered RB Global from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. BMO Capital Markets boosted their price objective on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Royal Bank of Canada upped their price target on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Raymond James upped their price target on RB Global from $110.00 to $118.00 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 given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.