Stonegate Investment Group LLC Buys New Shares in RB Global, Inc. (NYSE:RBA)

Stonegate Investment Group LLC bought a new stake 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 and Exchange Commission. The fund bought 2,622 shares of the business services provider’s stock, valued at approximately $237,000.

A number of other large investors also recently modified their holdings of RBA. National Bank of Canada FI lifted its stake in 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 worth $65,014,000 after purchasing an additional 610,843 shares in the last quarter. FMR LLC lifted 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 lifted 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. The Manufacturers Life Insurance Company lifted its stake in 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 worth $196,109,000 after purchasing an additional 354,803 shares in the last quarter. Finally, Canoe Financial LP lifted its stake in RB Global by 22.0% in the 3rd 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.

RB Global Trading Down 0.0 %

NYSE:RBA opened at $90.35 on Thursday. RB Global, Inc. has a 52 week low of $62.44 and a 52 week high of $99.79. The firm has a 50 day moving average of $92.78 and a 200 day moving average of $86.66. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $16.69 billion, a price-to-earnings ratio of 49.10, a PEG ratio of 3.39 and a beta of 0.96.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, February 6th will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, February 6th. This represents a $1.16 dividend on an annualized basis and a yield of 1.28%. RB Global’s payout ratio is 63.04%.

Wall Street Analyst Weigh In

RBA has been the topic of several research analyst reports. Royal Bank of Canada boosted their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. CIBC upped their price target on shares of RB Global from $102.00 to $109.00 and gave the company an “outperformer” rating in a report on Thursday, December 12th. Robert W. Baird upped their target price on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. StockNews.com upgraded shares of RB Global from a “hold” rating to a “buy” rating in a research note on Monday. Finally, BMO Capital Markets upped their price target on shares of RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average 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.