State Board of Administration of Florida Retirement System Raises Stock Holdings in RB Global, Inc. $RBA

State Board of Administration of Florida Retirement System grew its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,539 shares of the business services provider’s stock after acquiring an additional 1,450 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in RB Global were worth $18,747,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of RBA. SouthState Corp purchased a new stake in RB Global during the 1st quarter valued at approximately $26,000. SVB Wealth LLC acquired a new position in shares of RB Global in the first quarter valued at approximately $28,000. Rise Advisors LLC purchased a new stake in shares of RB Global during the first quarter worth approximately $38,000. Whipplewood Advisors LLC lifted its holdings in shares of RB Global by 42.9% during the second quarter. Whipplewood Advisors LLC now owns 456 shares of the business services provider’s stock worth $48,000 after purchasing an additional 137 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after buying an additional 97 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 other RB Global news, Director Deborah Stein bought 1,000 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was purchased at an average cost of $101.26 per share, for a total transaction of $101,260.00. Following the acquisition, the director owned 1,000 shares of the company’s stock, valued at $101,260. The trade was a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael Thomas Steven Lewis sold 2,151 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.15, for a total transaction of $254,140.65. The SEC filing for this sale provides additional information. 4.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RBA has been the subject of a number of analyst reports. National Bank Financial upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective for the company in a research report on Monday, November 24th. Raymond James Financial increased their price target on shares of RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Weiss Ratings lowered RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. BMO Capital Markets increased their target price on RB Global from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Finally, Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $122.88.

RB Global Trading Up 0.3%

Shares of RB Global stock opened at $98.15 on Monday. The company has a 50-day moving average of $102.25 and a two-hundred day moving average of $107.32. RB Global, Inc. has a 12-month low of $86.68 and a 12-month high of $119.58. 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 stock has a market cap of $18.22 billion, a PE ratio of 48.59, a price-to-earnings-growth ratio of 2.48 and a beta of 0.65.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.10. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.05 billion. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.71 EPS. On average, research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, November 26th will be given a $0.31 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. RB Global’s payout ratio is currently 59.33%.

RB Global 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.