Peregrine Capital Management LLC Acquires 1,303 Shares of RB Global, Inc. (NYSE:RBA)

Peregrine Capital Management LLC increased its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 70,510 shares of the business services provider’s stock after buying an additional 1,303 shares during the period. Peregrine Capital Management LLC’s holdings in RB Global were worth $6,361,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of RBA. Vontobel Holding Ltd. boosted its holdings in shares of RB Global by 9.8% during the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after acquiring an additional 753,700 shares during the period. National Bank of Canada FI boosted its stake in RB Global by 309.6% in the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock valued at $65,014,000 after purchasing an additional 610,843 shares during the period. FMR LLC grew its holdings in RB Global by 60.5% in the 3rd quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock valued at $95,057,000 after buying an additional 445,004 shares in the last quarter. CIBC Asset Management Inc increased its position in RB Global by 57.1% during the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after buying an additional 357,761 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of RB Global by 17.1% during the third quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock worth $196,109,000 after buying an additional 354,803 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Trading Up 0.3 %

Shares of RBA opened at $96.60 on Wednesday. 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, Inc. has a 52-week low of $65.99 and a 52-week high of $99.79. The firm has a market cap of $17.84 billion, a price-to-earnings ratio of 52.50, a PEG ratio of 4.01 and a beta of 0.96. The business’s fifty day moving average is $91.45 and its 200-day moving average is $87.87.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders 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 1.20%. The ex-dividend date is Friday, February 14th. RB Global’s payout ratio is 63.04%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RBA shares. Royal Bank of Canada upped their price target on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. BMO Capital Markets raised their target price on shares of RB Global from $105.00 to $107.00 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 research note on Monday, January 27th. 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. Finally, CIBC cut their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $100.21.

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.