State of Alaska Department of Revenue Sells 395 Shares of RB Global, Inc. (NYSE:RBA)

State of Alaska Department of Revenue reduced its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,025 shares of the business services provider’s stock after selling 395 shares during the period. State of Alaska Department of Revenue’s holdings in RB Global were worth $1,896,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Choreo LLC bought a new position in RB Global during the fourth quarter worth $735,000. Tectonic Advisors LLC increased its holdings in shares of RB Global by 22.2% during the 4th quarter. Tectonic Advisors LLC now owns 72,976 shares of the business services provider’s stock worth $6,583,000 after purchasing an additional 13,276 shares during the period. Retirement Systems of Alabama raised its position in shares of RB Global by 35.0% during the fourth quarter. Retirement Systems of Alabama now owns 388,260 shares of the business services provider’s stock valued at $35,025,000 after buying an additional 100,576 shares during the last quarter. Longboard Asset Management LP bought a new stake in shares of RB Global in the fourth quarter valued at about $231,000. Finally, Caprock Group LLC grew its position in RB Global by 27.1% during the fourth quarter. Caprock Group LLC now owns 5,054 shares of the business services provider’s stock worth $456,000 after buying an additional 1,078 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada lifted their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Robert W. Baird increased their price objective on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. BMO Capital Markets lifted their target price on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Finally, CIBC dropped their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.21.

RB Global Trading Up 0.3 %

Shares of RBA stock opened at $93.79 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $17.32 billion, a P/E ratio of 50.97, a P/E/G ratio of 3.82 and a beta of 0.96. RB Global, Inc. has a 12-month low of $65.79 and a 12-month high of $99.79. The firm has a 50-day moving average price of $91.60 and a 200 day moving average price of $87.40.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.24%. RB Global’s dividend payout ratio is 63.04%.

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.