Public Employees Retirement System of Ohio Takes $24.13 Million Position in RB Global, Inc. $RBA

Public Employees Retirement System of Ohio purchased a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 207,327 shares of the business services provider’s stock, valued at approximately $24,131,000.

Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. acquired a new position in RB Global in the 2nd quarter valued at approximately $1,816,059,000. EdgePoint Investment Group Inc. grew its holdings in shares of RB Global by 14.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock valued at $845,337,000 after acquiring an additional 1,111,217 shares in the last quarter. State Street Corp increased its stake in shares of RB Global by 1.7% in the fourth quarter. State Street Corp now owns 6,290,640 shares of the business services provider’s stock worth $647,118,000 after acquiring an additional 104,286 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of RB Global by 13.1% during the first quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider’s stock worth $483,432,000 after acquiring an additional 585,617 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in RB Global by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider’s stock valued at $513,930,000 after purchasing an additional 250,887 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at RB Global

In related news, Director Chloe Harford acquired 1,200 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were bought at an average price of $83.74 per share, for a total transaction of $100,488.00. Following the acquisition, the director owned 1,200 shares in the company, valued at $100,488. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RBA has been the topic of a number of recent research reports. Royal Bank Of Canada boosted their target price on RB Global from $150.00 to $152.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of RB Global in a report on Wednesday, August 5th. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Stephens restated an “equal weight” rating and issued a $96.00 price objective on shares of RB Global in a report on Tuesday, May 5th. Finally, Barclays cut their price objective on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $128.00.

RB Global Stock Performance

Shares of NYSE RBA opened at $85.94 on Friday. RB Global, Inc. has a 12 month low of $82.03 and a 12 month high of $119.58. The company has a market cap of $15.91 billion, a P/E ratio of 36.88, a P/E/G ratio of 1.47 and a beta of 0.56. The business’s 50 day moving average is $103.30 and its two-hundred day moving average is $103.19. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.04. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.21 billion. On average, equities analysts expect that RB Global, Inc. will post 4.06 EPS for the current year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be given a $0.33 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 annualized dividend and a yield of 1.5%. This is a positive change from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio (DPR) is 56.65%.

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.