Tobam Reduces Stake in RB Global, Inc. (NYSE:RBA)

Tobam has reduced its ownership in RB Global, Inc. (NYSE:RBA) by approximately 29.8% during the fourth quarter, as stated in its latest 13F filing with the Securities and Exchange Commission. After selling 17,602 shares, the fund now holds 41,445 shares of this business services provider based on their recent filing, which values their holdings at around $3,739,000.

Changes by Other Investors

Other hedge funds have also modified their stakes in RB Global recently. For instance, State Street Corp increased its investment by 2.1% in the third quarter, owning a total of 5,045,188 shares valued at $406,087,000 after acquiring an additional 103,080 shares. Similarly, Geode Capital Management LLC raised its position in RB Global by 3.0% during the same quarter, now holding 3,702,381 shares worth $297,400,000 after purchasing an additional 108,188 shares. Janus Henderson Group PLC also increased its holdings by 0.7%, acquiring 24,101 additional shares to bring its total to 3,383,191 shares valued at $272,293,000. Additionally, The Manufacturers Life Insurance Company boosted its stake by 17.1%, now owning 2,435,191 shares valued at $196,109,000 after an additional 354,803 shares bought. Canoe Financial LP also raised its investment in RB Global by 22.0%, bringing its total to 1,418,666 shares valued at $113,900,000. Overall, approximately 95.37% of the company's stock is owned by institutional investors.

RB Global's Recent Performance

On Friday, shares of RB Global opened at $91.50. The company's market capitalization stands at $16.90 billion, with a P/E ratio of 49.73, a PEG ratio of 3.73, and a beta of 0.96. The stock has experienced a yearly fluctuation, with a low of $65.79 and a high of $99.79. The 50-day moving average price is $91.84, while the 200-day moving average is $87.00. Furthermore, RB Global has maintained a debt-to-equity ratio of 0.52, a current ratio of 1.28, and a quick ratio of 1.17.

Dividend Announcements

RB Global has announced its upcoming quarterly dividend, which is scheduled for payment on Monday, March 3rd. Investors who are on record as of Friday, February 14th, will receive a dividend of $0.29. The ex-dividend date is also set for February 14th. This translates to an annualized dividend of $1.16, equating to a yield of 1.27%. At present, the company has a dividend payout ratio of 63.04%.

Analyst Insights

Numerous analysts have recently offered their perspectives on RB Global. For instance, CIBC has lowered its price target for the shares from $109.00 to $108.00 while maintaining an