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

Ridgewood Investments LLC cut its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,304 shares of the business services provider’s stock after selling 298 shares during the quarter. Ridgewood Investments LLC’s holdings in RB Global were worth $208,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. National Bank of Canada FI grew its position in RB Global by 309.6% during the third quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock worth $65,014,000 after buying an additional 610,843 shares during the period. FMR LLC grew its holdings in shares of RB Global by 60.5% in the 3rd quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock worth $95,057,000 after acquiring an additional 445,004 shares during the period. CIBC Asset Management Inc grew its holdings in shares of RB Global by 57.1% in the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after acquiring an additional 357,761 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of RB Global by 17.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock worth $196,109,000 after acquiring an additional 354,803 shares during the period. Finally, Canoe Financial LP grew its holdings in shares of RB Global by 22.0% in the 3rd quarter. Canoe Financial LP now owns 1,418,666 shares of the business services provider’s stock worth $113,900,000 after acquiring an additional 255,484 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Trading Down 1.3 %

Shares of RB Global stock traded down $1.20 during trading hours on Friday, reaching $89.16. 126,018 shares of the company’s stock were exchanged, compared to its average volume of 535,464. RB Global, Inc. has a 52-week low of $60.84 and a 52-week high of $99.79. The firm has a market capitalization of $16.47 billion, a price-to-earnings ratio of 48.46, a price-to-earnings-growth ratio of 4.56 and a beta of 0.96. The company has a fifty day moving average of $93.05 and a 200-day moving average 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 Dividend Announcement

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

Analyst Ratings Changes

RBA has been the topic of a number of research reports. Robert W. Baird upped their price target on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a report on Tuesday. BMO Capital Markets upped their price target on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Royal Bank of Canada upped their price target on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, CIBC increased their target price on RB Global from $102.00 to $109.00 and gave the company an “outperformer” rating in a report on Thursday, December 12th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.36.

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.