RB Global, Inc. (NYSE:RBA) Shares Sold by Ridgewood Investments LLC

Ridgewood Investments LLC cut its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 11.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,304 shares of the business services provider’s stock after selling 298 shares during the period. Ridgewood Investments LLC’s holdings in RB Global were worth $208,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new position in RB Global in the fourth quarter worth about $27,000. Versant Capital Management Inc grew its stake 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 purchasing an additional 176 shares in the last quarter. UMB Bank n.a. boosted 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 acquiring an additional 388 shares during the period. Quarry LP acquired a new position in RB Global in the second quarter valued at approximately $53,000. Finally, Covestor Ltd boosted its stake in RB Global by 533.1% in the third quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 677 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Royal Bank of Canada lifted their target price on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research note 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. Robert W. Baird lifted their target price on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. BMO Capital Markets lifted their price target on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, StockNews.com raised RB Global from a “hold” rating to a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, RB Global has an average rating of “Moderate Buy” and a consensus target price of $100.36.

RB Global Price Performance

NYSE:RBA traded down $1.20 during midday trading on Friday, hitting $89.16. 126,018 shares of the stock were exchanged, compared to its average volume of 535,464. RB Global, Inc. has a one year low of $60.84 and a one year high of $99.79. The company has a market capitalization of $16.47 billion, a price-to-earnings ratio of 48.46, a P/E/G ratio of 4.56 and a beta of 0.96. The business has a 50-day moving average price of $93.05 and a two-hundred day moving average price of $85.38. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.16 annualized dividend and a yield of 1.30%. RB Global’s payout ratio is 63.04%.

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.