Fifth Third Bancorp Cuts Position in RB Global, Inc. (NYSE:RBA)

Fifth Third Bancorp lowered its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 27.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,396 shares of the business services provider’s stock after selling 894 shares during the period. Fifth Third Bancorp’s holdings in RB Global were worth $216,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Squarepoint Ops LLC acquired a new stake in RB Global in the 2nd quarter valued at $402,000. Creative Planning grew its stake in shares of RB Global by 35.7% in the second quarter. Creative Planning now owns 15,526 shares of the business services provider’s stock valued at $1,186,000 after buying an additional 4,081 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of RB Global by 30.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,020 shares of the business services provider’s stock valued at $78,000 after buying an additional 241 shares during the period. Quarry LP acquired a new position in RB Global during the 2nd quarter worth approximately $53,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in RB Global in the 2nd quarter worth approximately $2,970,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

Shares of RBA opened at $89.47 on Friday. RB Global, Inc. has a 52 week low of $63.13 and a 52 week high of $99.79. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The firm has a market cap of $16.53 billion, a price-to-earnings ratio of 48.63, a PEG ratio of 3.77 and a beta of 0.96. The stock has a 50 day moving average of $92.52 and a 200-day moving average of $86.76.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, February 6th will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.30%. RB Global’s payout ratio is currently 63.04%.

Analyst Ratings Changes

RBA has been the topic of a number of recent research reports. StockNews.com raised shares of RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada upped their price objective on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Robert W. Baird lifted their target price on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. CIBC boosted their price target on RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets raised their price objective on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.