RB Global, Inc. $RBA Shares Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lifted its stake in shares of RB Global, Inc. (NYSE:RBAFree Report) (TSE:RBA) by 9.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 207,778 shares of the business services provider’s stock after buying an additional 17,489 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in RB Global were worth $19,873,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RBA. Walleye Capital LLC grew its stake in shares of RB Global by 19.6% during the first quarter. Walleye Capital LLC now owns 340,935 shares of the business services provider’s stock valued at $32,679,000 after acquiring an additional 55,857 shares in the last quarter. NewEdge Wealth LLC purchased a new stake in shares of RB Global during the first quarter worth about $384,000. PNC Financial Services Group Inc. lifted its stake in shares of RB Global by 8.7% in the first quarter. PNC Financial Services Group Inc. now owns 21,064 shares of the business services provider’s stock worth $2,019,000 after acquiring an additional 1,685 shares in the last quarter. Oslo Pensjonsforsikring AS acquired a new position in shares of RB Global in the first quarter worth about $268,000. Finally, Long Road Investment Counsel LLC boosted its holdings in RB Global by 4.1% in the first quarter. Long Road Investment Counsel LLC now owns 58,140 shares of the business services provider’s stock valued at $5,573,000 after purchasing an additional 2,300 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Deborah Stein bought 425 shares of the stock in a transaction on Tuesday, May 19th. The shares were purchased at an average price of $103.15 per share, with a total value of $43,838.75. Following the purchase, the director owned 1,825 shares in the company, valued at approximately $188,248.75. This represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Royal Bank Of Canada upped their target price on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Barclays reduced their target price on RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a research note on Wednesday. Raymond James Financial raised shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target for the company in a research report on Tuesday, June 30th. Finally, Zacks Research upgraded shares of RB Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, RB Global currently has an average rating of “Buy” and an average target price of $127.57.

Check Out Our Latest Research Report on RB Global

RB Global Stock Up 2.3%

NYSE:RBA opened at $111.68 on Friday. The firm has a market capitalization of $20.71 billion, a PE ratio of 51.95, a price-to-earnings-growth ratio of 1.75 and a beta of 0.55. The stock has a 50 day moving average of $108.82 and a 200-day moving average of $106.35. RB Global, Inc. has a 52 week low of $93.58 and a 52 week high of $119.58. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40.

RB Global (NYSE:RBAGet Free Report) (TSE:RBA) last released its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping 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 business had revenue of $888.01 million for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company earned $0.89 EPS. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Analysts predict that RB Global, Inc. will post 4.16 EPS for the current year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, May 27th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Wednesday, May 27th. RB Global’s dividend payout ratio is currently 57.67%.

RB Global Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for RB Global (NYSE:RBA)

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