Retirement Systems of Alabama Sells 51,546 Shares of RB Global, Inc. $RBA

Retirement Systems of Alabama cut its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 13.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 335,314 shares of the business services provider’s stock after selling 51,546 shares during the quarter. Retirement Systems of Alabama owned approximately 0.18% of RB Global worth $36,335,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RBA. MJP Associates Inc. ADV lifted its stake in shares of RB Global by 2.2% in the second quarter. MJP Associates Inc. ADV now owns 4,434 shares of the business services provider’s stock worth $471,000 after acquiring an additional 95 shares during the period. Geneos Wealth Management Inc. raised its holdings in RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after purchasing an additional 97 shares during the last quarter. Archer Investment Corp raised its holdings in RB Global by 6.0% during the 2nd quarter. Archer Investment Corp now owns 1,760 shares of the business services provider’s stock worth $187,000 after purchasing an additional 100 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of RB Global by 12.9% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 938 shares of the business services provider’s stock worth $102,000 after purchasing an additional 107 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of RB Global by 1.1% in the 2nd quarter. California State Teachers Retirement System now owns 11,693 shares of the business services provider’s stock valued at $1,242,000 after purchasing an additional 124 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Bank of America lowered their target price on shares of RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of RB Global in a research report on Thursday. National Bankshares dropped their price objective on 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. Raymond James Financial raised their target price on RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Finally, National Bank Financial upgraded RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price for the company in a report on Monday, November 24th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $124.13.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 20,742 shares of the business’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the completion of the sale, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at $12,370,435. The trade was a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Deborah Stein purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average cost of $101.26 per share, for a total transaction of $101,260.00. Following the transaction, the director owned 1,000 shares in the company, valued at $101,260. This represents a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.28% of the company’s stock.

RB Global Stock Performance

Shares of RB Global stock opened at $115.57 on Monday. RB Global, Inc. has a one year low of $86.68 and a one year high of $119.58. The firm has a market capitalization of $21.48 billion, a price-to-earnings ratio of 55.30, a PEG ratio of 2.17 and a beta of 0.57. The business has a 50-day simple moving average of $104.16 and a 200 day simple moving average of $107.29. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.15.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.10. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. RB Global had a return on equity of 9.66% and a net margin of 9.65%.The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 earnings per share. On average, research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 9th will be given a $0.31 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.24 annualized dividend and a yield of 1.1%. RB Global’s dividend payout ratio (DPR) is presently 59.33%.

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.