Longboard Asset Management LP Takes Position in RB Global, Inc. (NYSE:RBA)

Longboard Asset Management LP purchased a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,564 shares of the business services provider’s stock, valued at approximately $231,000.

A number of other large investors have also modified their holdings of RBA. Arlington Partners LLC grew its position in RB Global by 22.3% in the 3rd quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock worth $3,958,000 after purchasing an additional 8,961 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of RB Global during the fourth quarter worth approximately $27,000. CIBC Asset Management Inc grew its holdings 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 buying an additional 357,761 shares in the last quarter. Diversified Trust Co increased its position in RB Global by 48.9% in the 4th quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock valued at $5,694,000 after acquiring an additional 20,724 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its stake in RB Global by 53.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock valued at $4,805,000 after acquiring an additional 20,795 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Ratings Changes

RBA has been the subject of several recent analyst reports. StockNews.com raised RB Global from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada increased their target price on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. BMO Capital Markets boosted 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. CIBC decreased their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday. Finally, Robert W. Baird boosted their price objective on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, RB Global presently has an average rating of “Moderate Buy” and a consensus price target of $100.21.

RB Global Stock Down 1.1 %

Shares of RB Global stock opened at $88.46 on Tuesday. RB Global, Inc. has a 12-month low of $63.13 and a 12-month high of $99.79. The firm has a market capitalization of $16.34 billion, a PE ratio of 48.07, a price-to-earnings-growth ratio of 3.73 and a beta of 0.96. 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’s fifty day moving average is $92.32 and its 200-day moving average is $86.89.

RB Global Dividend Announcement

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

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.