Stonegate Investment Group LLC Makes New $237,000 Investment in RB Global, Inc. (NYSE:RBA)

Stonegate Investment Group LLC purchased a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 2,622 shares of the business services provider’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arlington Partners LLC raised its holdings in shares of RB Global by 22.3% in the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock worth $3,958,000 after buying an additional 8,961 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of RB Global in the fourth quarter worth $27,000. CIBC Asset Management Inc increased its stake in shares of RB Global by 57.1% in the third 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. Diversified Trust Co increased its stake in shares of RB Global by 48.9% in the fourth quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock worth $5,694,000 after acquiring an additional 20,724 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its stake in shares of RB Global by 53.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock worth $4,805,000 after acquiring an additional 20,795 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Stock Down 0.0 %

RBA stock opened at $90.35 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. The firm has a market cap of $16.69 billion, a PE ratio of 49.10, a P/E/G ratio of 3.39 and a beta of 0.96. RB Global, Inc. has a one year low of $62.44 and a one year high of $99.79. The firm’s fifty day moving average is $92.78 and its 200 day moving average is $86.66.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, February 6th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, February 6th. RB Global’s payout ratio is 63.04%.

Wall Street Analysts Forecast Growth

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

RB Global Company 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.