South Dakota Investment Council Acquires Shares of 4,300 RB Global, Inc. $RBA

South Dakota Investment Council purchased a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,300 shares of the business services provider’s stock, valued at approximately $457,000.

A number of other large investors have also recently made changes to their positions in the stock. State of Michigan Retirement System grew its stake in shares of RB Global by 0.9% in the second quarter. State of Michigan Retirement System now owns 44,500 shares of the business services provider’s stock worth $4,725,000 after acquiring an additional 400 shares during the period. Strs Ohio grew its stake in shares of RB Global by 39.0% in the second quarter. Strs Ohio now owns 25,631 shares of the business services provider’s stock worth $2,722,000 after acquiring an additional 7,196 shares during the period. Amalgamated Bank grew its stake in shares of RB Global by 1.5% in the second quarter. Amalgamated Bank now owns 85,883 shares of the business services provider’s stock worth $9,120,000 after acquiring an additional 1,268 shares during the period. Retirement Systems of Alabama grew its stake in shares of RB Global by 0.5% in the second quarter. Retirement Systems of Alabama now owns 386,860 shares of the business services provider’s stock worth $41,081,000 after acquiring an additional 1,893 shares during the period. Finally, Hantz Financial Services Inc. boosted its stake in shares of RB Global by 664.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 589 shares of the business services provider’s stock worth $63,000 after buying an additional 512 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. CIBC raised their price target on RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a research note on Friday, July 18th. Weiss Ratings downgraded RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Wall Street Zen upgraded RB Global from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Raymond James Financial raised their price target on RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Finally, BMO Capital Markets raised their price target on RB Global from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $123.43.

Insider Buying and Selling at RB Global

In other RB Global news, insider Michael Thomas Steven Lewis sold 2,151 shares of the company’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 value of $254,140.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.28% of the stock is currently owned by insiders.

RB Global Stock Performance

Shares of NYSE RBA opened at $98.74 on Wednesday. The firm has a 50 day moving average of $108.69 and a 200 day moving average of $107.65. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $18.33 billion, a price-to-earnings ratio of 48.88, a price-to-earnings-growth ratio of 2.48 and a beta of 0.66. RB Global, Inc. has a 12-month low of $85.22 and a 12-month high of $119.58.

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

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.