Mutual of America Capital Management LLC Cuts Stock Position in RB Global, Inc. (NYSE:RBA)

Mutual of America Capital Management LLC trimmed its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 97,416 shares of the business services provider’s stock after selling 2,166 shares during the quarter. Mutual of America Capital Management LLC’s holdings in RB Global were worth $8,788,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Central Pacific Bank Trust Division purchased a new stake in RB Global during the fourth quarter valued at approximately $27,000. CIBC Asset Management Inc increased its position in shares of RB Global by 57.1% during the third 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. Diversified Trust Co lifted its holdings in shares of RB Global by 48.9% during the 4th quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock valued at $5,694,000 after purchasing an additional 20,724 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of RB Global by 53.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock worth $4,805,000 after purchasing an additional 20,795 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its stake in 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 worth $762,378,000 after buying an additional 753,700 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

RB Global Stock Performance

Shares of NYSE RBA opened at $102.33 on Friday. The company has a 50 day simple moving average of $92.86 and a two-hundred day simple moving average of $89.27. The stock has a market cap of $18.90 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 4.95 and a beta of 0.96. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a 12 month low of $69.83 and a 12 month high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The business had revenue of $1.14 billion for the quarter, compared to analyst estimates 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 earned $0.82 earnings per share. As a group, analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.13%. RB Global’s payout ratio is 57.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RBA shares. StockNews.com cut RB Global from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Raymond James lifted their target price on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. BMO Capital Markets boosted their target price on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Royal Bank of Canada raised their price target on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, CIBC dropped their price objective on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.64.

RB Global Company 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.