Park Place Capital Corp Sells 230 Shares of RB Global, Inc. (NYSE:RBA)

Park Place Capital Corp reduced its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 17.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,052 shares of the business services provider’s stock after selling 230 shares during the period. Park Place Capital Corp’s holdings in RB Global were worth $95,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RBA. MassMutual Private Wealth & Trust FSB increased its holdings in RB Global by 25.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock worth $64,000 after purchasing an additional 143 shares during the period. UMB Bank n.a. increased its stake in shares of RB Global by 60.1% during the fourth quarter. UMB Bank n.a. now owns 938 shares of the business services provider’s stock valued at $85,000 after buying an additional 352 shares during the period. Integrated Investment Consultants LLC raised its holdings in shares of RB Global by 8.9% in the fourth quarter. Integrated Investment Consultants LLC now owns 3,134 shares of the business services provider’s stock valued at $283,000 after acquiring an additional 257 shares in the last quarter. Avanza Fonder AB purchased a new stake in RB Global in the fourth quarter worth about $1,234,000. Finally, Cypress Wealth Services LLC bought a new position in RB Global during the 4th quarter worth about $224,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Performance

RBA opened at $89.95 on Thursday. The company has a market cap of $16.62 billion, a P/E ratio of 48.89, a price-to-earnings-growth ratio of 3.42 and a beta of 0.96. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average price is $93.06 and its 200-day moving average price is $86.22. RB Global, Inc. has a 52-week low of $60.84 and a 52-week high of $99.79.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, February 6th will be issued a $0.29 dividend. The ex-dividend date is Thursday, February 6th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.29%. RB Global’s dividend payout ratio is currently 63.04%.

Wall Street Analysts Forecast Growth

RBA has been the subject of several research reports. CIBC upped their price target on shares of RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a research report on Thursday, December 12th. Royal Bank of Canada increased their target price on 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 price target on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. BMO Capital Markets upped their price objective on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, StockNews.com downgraded shares of RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, RB Global has an average 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.