Armstrong Henry H Associates Inc. Raises Holdings in RB Global, Inc. (NYSE:RBA)

Armstrong Henry H Associates Inc. lifted its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,305 shares of the business services provider’s stock after purchasing an additional 310 shares during the quarter. Armstrong Henry H Associates Inc.’s holdings in RB Global were worth $749,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new position in RB Global during the 4th quarter valued at approximately $27,000. Versant Capital Management Inc increased its position in shares of RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 176 shares during the period. UMB Bank n.a. raised its stake in RB Global by 196.0% in the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after acquiring an additional 388 shares during the last quarter. Quarry LP purchased a new position in RB Global in the 2nd quarter worth $53,000. Finally, Covestor Ltd lifted its position in RB Global by 533.1% during the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock worth $65,000 after acquiring an additional 677 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Up 0.6 %

RBA opened at $89.30 on Tuesday. The company has a fifty day moving average of $93.12 and a two-hundred day moving average of $85.56. The stock has a market capitalization of $16.50 billion, a price-to-earnings ratio of 48.53, a PEG ratio of 4.56 and a beta of 0.96. RB Global, Inc. has a fifty-two week low of $60.84 and a fifty-two week high of $99.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28.

RB Global Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Robert W. Baird raised 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. BMO Capital Markets raised 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. StockNews.com raised shares of RB Global from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Royal Bank of Canada raised their target price on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, 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. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.36.

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.