Skandinaviska Enskilda Banken AB publ Cuts Stock Holdings in RB Global, Inc. (NYSE:RBA)

Skandinaviska Enskilda Banken AB publ reduced its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 13.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,301 shares of the business services provider’s stock after selling 3,200 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in RB Global were worth $1,925,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new position in shares of RB Global in the 4th quarter worth $27,000. Versant Capital Management Inc grew its stake 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 worth $28,000 after buying an additional 176 shares in the last quarter. Jones Financial Companies Lllp grew 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 worth $35,000 after buying an additional 129 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in shares of RB Global in the 4th quarter worth $37,000. Finally, Geneos Wealth Management Inc. purchased a new position in shares of RB Global in the 4th quarter worth $40,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RBA has been the subject of a number of recent research reports. CIBC dropped their price objective on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. BMO Capital Markets lifted their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Raymond James lifted their price target on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Robert W. Baird lifted their price target on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada lifted their price target on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, RB Global has an average rating of “Moderate Buy” and an average target price of $107.64.

RB Global Trading Up 1.5 %

Shares of RBA opened at $95.81 on Monday. RB Global, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90. The company has a 50-day moving average of $94.52 and a 200 day moving average of $90.44. The firm has a market capitalization of $17.70 billion, a price-to-earnings ratio of 47.66, a PEG ratio of 4.95 and a beta of 0.94. 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 (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the business earned $0.82 EPS. On average, research analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

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