New York State Teachers Retirement System lowered its stake in shares of RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,882 shares of the business services provider’s stock after selling 6,044 shares during the period. New York State Teachers Retirement System owned approximately 0.05% of RB Global worth $9,382,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its holdings in RB Global by 1.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider’s stock worth $1,120,479,000 after acquiring an additional 165,260 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of RB Global by 6.1% during the third quarter. Mackenzie Financial Corp now owns 745,217 shares of the business services provider’s stock valued at $80,700,000 after acquiring an additional 42,875 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of RB Global by 29.6% during the third quarter. Bank of Nova Scotia now owns 214,585 shares of the business services provider’s stock valued at $23,245,000 after acquiring an additional 48,987 shares in the last quarter. Magnetar Financial LLC raised its position in shares of RB Global by 1,498.8% during the third quarter. Magnetar Financial LLC now owns 38,660 shares of the business services provider’s stock worth $4,189,000 after purchasing an additional 36,242 shares during the period. Finally, iSAM Funds UK Ltd acquired a new position in shares of RB Global during the third quarter worth approximately $1,549,000. Institutional investors own 95.37% of the company’s stock.
Analyst Ratings Changes
RBA has been the subject of several research reports. Royal Bank Of Canada lifted their price target on shares of RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Stephens reiterated an “equal weight” rating and set a $96.00 price objective on shares of RB Global in a report on Tuesday, May 5th. Barclays started coverage on shares of RB Global in a research report on Thursday, May 28th. They set an “overweight” rating and a $124.00 target price for the company. Raymond James Financial upgraded shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 target price on the stock in a report on Tuesday, June 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of RB Global in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $126.12.
RB Global Stock Down 1.2%
RBA traded down $1.37 during mid-day trading on Tuesday, reaching $112.72. 147,758 shares of the stock were exchanged, compared to its average volume of 1,302,455. RB Global, Inc. has a 1 year low of $93.58 and a 1 year high of $119.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.07 and a current ratio of 1.14. The stock has a market capitalization of $20.96 billion, a PE ratio of 52.43, a price-to-earnings-growth ratio of 1.76 and a beta of 0.55. The company has a 50 day moving average price of $107.05 and a two-hundred day moving average price of $105.75.
RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last released its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The company had revenue of $888.01 million for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the firm earned $0.89 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. As a group, research analysts anticipate that RB Global, Inc. will post 4.16 EPS for the current year.
RB Global Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. RB Global’s dividend payout ratio (DPR) is currently 57.67%.
Insider Buying and Selling at RB Global
In other RB Global news, Director Deborah Stein bought 425 shares of RB Global stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of $103.15 per share, with a total value of $43,838.75. Following the completion of the acquisition, the director directly owned 1,825 shares in the company, valued at approximately $188,248.75. The trade was a 30.36% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.57% of the stock is owned by insiders.
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.
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