First Horizon Advisors Inc. Trims Holdings in RB Global, Inc. (NYSE:RBA)

First Horizon Advisors Inc. decreased its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 10.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,756 shares of the business services provider’s stock after selling 207 shares during the period. First Horizon Advisors Inc.’s holdings in RB Global were worth $158,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new stake in shares of RB Global during the fourth quarter valued at about $27,000. Versant Capital Management Inc increased its holdings in RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after acquiring an additional 176 shares during the period. Geneos Wealth Management Inc. purchased a new stake in RB Global in the 4th quarter worth approximately $40,000. MassMutual Private Wealth & Trust FSB boosted its holdings in RB Global by 25.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 143 shares during the period. Finally, Covestor Ltd grew its position in shares of RB Global by 533.1% during the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 677 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Robert W. Baird increased their price objective on RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Royal Bank of Canada raised their price target on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. StockNews.com lowered RB Global from a “buy” rating to a “hold” rating in a report on Tuesday. CIBC dropped their target price on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. Finally, Raymond James lifted their price objective on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.64.

RB Global Trading Down 1.5 %

Shares of RBA stock opened at $101.25 on Wednesday. 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. The stock has a market capitalization of $18.70 billion, a P/E ratio of 50.37, a P/E/G ratio of 4.95 and a beta of 0.96. The firm’s 50 day moving average is $92.25 and its 200 day moving average is $88.94.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period in the previous year, the business posted $0.82 EPS. Research analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.15%. The ex-dividend date is Friday, February 14th. RB Global’s dividend payout ratio (DPR) is presently 57.71%.

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.