Riverbridge Partners LLC Sells 531,401 Shares of RB Global, Inc. (NYSE:RBA)

Riverbridge Partners LLC lessened its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 19.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,230,934 shares of the business services provider’s stock after selling 531,401 shares during the quarter. RB Global makes up about 2.7% of Riverbridge Partners LLC’s investment portfolio, making the stock its 6th largest holding. Riverbridge Partners LLC’s holdings in RB Global were worth $201,253,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new stake in shares of RB Global in the 4th quarter worth approximately $27,000. Versant Capital Management Inc increased its position in RB Global by 136.4% in 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 period. UMB Bank n.a. lifted its stake in RB Global by 196.0% in the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock valued at $47,000 after buying an additional 388 shares during the last quarter. Quarry LP acquired a new position in shares of RB Global during the second quarter valued at $53,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of 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 acquiring an additional 143 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Stock Down 1.0 %

Shares of RBA stock opened at $89.95 on Thursday. RB Global, Inc. has a 1 year low of $60.84 and a 1 year high of $99.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. The business’s fifty day moving average is $93.06 and its 200-day moving average is $86.22. The stock has a market cap of $16.62 billion, a PE ratio of 48.89, a price-to-earnings-growth ratio of 3.42 and a beta of 0.96.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, February 6th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.29%. The ex-dividend date is Thursday, February 6th. RB Global’s dividend payout ratio (DPR) is presently 63.04%.

Wall Street Analysts Forecast Growth

RBA has been the subject of a number of analyst reports. StockNews.com lowered shares of RB Global from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. BMO Capital Markets boosted their price objective on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Royal Bank of Canada raised their target price on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. CIBC lifted their target price on RB Global from $102.00 to $109.00 and gave the company an “outperformer” rating in a research note on Thursday, December 12th. Finally, Robert W. Baird increased their price target on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, RB Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.36.

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.