Nicholas Company Inc. Reduces Holdings in RB Global, Inc. (NYSE:RBA)

Nicholas Company Inc. trimmed its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 312,790 shares of the business services provider’s stock after selling 5,900 shares during the quarter. Nicholas Company Inc. owned approximately 0.17% of RB Global worth $28,217,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RBA. Central Pacific Bank Trust Division acquired a new position in RB Global during the fourth quarter worth $27,000. Versant Capital Management Inc boosted its stake in RB Global by 136.4% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after buying an additional 176 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 129 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of RB Global in the 4th quarter valued at $36,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of RB Global in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RBA. BMO Capital Markets upped their price target on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Raymond James upped their price target on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Robert W. Baird upped their price target on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. CIBC decreased their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. Finally, Royal Bank of Canada increased their target price on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.64.

RB Global Price Performance

Shares of NYSE RBA opened at $95.81 on Friday. The stock’s 50-day moving average is $94.52 and its two-hundred day moving average is $90.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. RB Global, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90. The company has a market cap of $17.70 billion, a price-to-earnings ratio of 47.66, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the company earned $0.82 EPS. Analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.21%. RB Global’s payout ratio is currently 57.71%.

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.