Horizon Kinetics Asset Management LLC Sells 7,379 Shares of RB Global, Inc. (NYSE:RBA)

Horizon Kinetics Asset Management LLC cut its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,630 shares of the business services provider’s stock after selling 7,379 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in RB Global were worth $9,980,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RBA. Central Pacific Bank Trust Division bought a new position in shares of RB Global in the fourth quarter valued at $27,000. Versant Capital Management Inc grew its stake in shares of RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock valued at $28,000 after buying an additional 176 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after buying an additional 129 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in RB Global during the 4th quarter valued at $36,000. Finally, Whipplewood Advisors LLC acquired a new stake in RB Global during the 4th quarter valued at $37,000. 95.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RBA shares. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. BMO Capital Markets raised their price target on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Raymond James raised their price target on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. CIBC cut their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. Finally, Robert W. Baird lifted their target price on RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $107.64.

RB Global Stock Up 1.5 %

RBA opened at $95.81 on Monday. The company has a market capitalization of $17.70 billion, a P/E ratio of 47.66, a P/E/G ratio of 4.95 and a beta of 0.94. The stock has a fifty day moving average of $94.52 and a 200-day moving average of $90.44. RB Global, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The company had revenue of $1.14 billion during 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 period last year, the firm earned $0.82 EPS. On average, equities analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Friday, February 14th. RB Global’s dividend payout ratio (DPR) is presently 57.71%.

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.