RB Global, Inc. $RBA Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama raised its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 386,860 shares of the business services provider’s stock after buying an additional 1,893 shares during the quarter. Retirement Systems of Alabama’s holdings in RB Global were worth $41,081,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of RB Global by 28.6% in the 1st quarter. GAMMA Investing LLC now owns 1,608 shares of the business services provider’s stock worth $161,000 after acquiring an additional 358 shares during the period. New York State Teachers Retirement System grew its position in RB Global by 8.4% in the 1st quarter. New York State Teachers Retirement System now owns 106,773 shares of the business services provider’s stock worth $10,709,000 after purchasing an additional 8,302 shares during the last quarter. Keybank National Association OH increased its stake in shares of RB Global by 8.4% in the first quarter. Keybank National Association OH now owns 7,967 shares of the business services provider’s stock valued at $799,000 after purchasing an additional 619 shares during the period. Principal Financial Group Inc. raised its holdings in shares of RB Global by 0.4% during the first quarter. Principal Financial Group Inc. now owns 424,209 shares of the business services provider’s stock valued at $42,548,000 after buying an additional 1,552 shares during the last quarter. Finally, Fullcircle Wealth LLC raised its holdings in shares of RB Global by 5.5% during the first quarter. Fullcircle Wealth LLC now owns 2,382 shares of the business services provider’s stock valued at $235,000 after buying an additional 124 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Buying and Selling

In related news, insider Michael Thomas Steven Lewis sold 2,151 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $118.15, for a total transaction of $254,140.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. BMO Capital Markets increased their price objective on RB Global from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Royal Bank Of Canada increased their price target on RB Global from $125.00 to $132.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. National Bankshares cut their price objective on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 9th. Weiss Ratings downgraded shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, CIBC increased their target price on shares of RB Global from $118.00 to $121.00 and gave the company an “outperformer” rating in a research report on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and an average price target of $123.43.

RB Global Trading Up 0.5%

Shares of RBA stock opened at $100.36 on Friday. The stock has a 50-day simple moving average of $109.72 and a 200 day simple moving average of $107.49. The stock has a market capitalization of $18.63 billion, a P/E ratio of 49.68, a P/E/G ratio of 2.48 and a beta of 0.65. RB Global, Inc. has a fifty-two week low of $84.31 and a fifty-two week high of $119.58. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.95 by $0.12. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the business earned $0.94 earnings per share. RB Global’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, sell-side analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 28th were paid a dividend of $0.31 per share. This is a boost from RB Global’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, August 28th. RB Global’s dividend payout ratio (DPR) is currently 61.39%.

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.