Kentucky Retirement Systems Acquires Shares of 12,499 RB Global, Inc. (NYSE:RBA)

Kentucky Retirement Systems acquired a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 12,499 shares of the business services provider’s stock, valued at approximately $1,254,000.

A number of other institutional investors have also recently bought and sold shares of RBA. Natixis Advisors LLC raised its position in shares of RB Global by 69.5% in the 4th quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider’s stock valued at $1,703,000 after buying an additional 7,737 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of RB Global by 122.2% in the 1st quarter. QRG Capital Management Inc. now owns 7,678 shares of the business services provider’s stock valued at $770,000 after buying an additional 4,222 shares in the last quarter. Mawer Investment Management Ltd. raised its position in shares of RB Global by 15.7% in the 4th quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider’s stock valued at $10,876,000 after buying an additional 16,397 shares in the last quarter. Vanguard Group Inc. raised its position in shares of RB Global by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock valued at $2,248,060,000 after buying an additional 358,752 shares in the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of RB Global by 9.2% in the 4th quarter. MetLife Investment Management LLC now owns 103,934 shares of the business services provider’s stock valued at $9,376,000 after buying an additional 8,723 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on RBA shares. National Bank Financial cut shares of RB Global from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 25th. CIBC upped their price objective on shares of RB Global from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research report on Friday, May 9th. Wall Street Zen upgraded shares of RB Global from a “hold” rating to a “buy” rating in a research report on Saturday. National Bankshares lowered their price objective on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, Robert W. Baird upped their price objective on shares of RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $114.50.

Insider Activity

In other news, insider Andrew John Fesler sold 9,075 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total value of $950,334.00. Following the sale, the insider now directly owns 5,532 shares of the company’s stock, valued at approximately $579,311.04. This represents a 62.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Adam Dewitt sold 800 shares of the company’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $84,936.00. Following the completion of the sale, the director now directly owns 5,865 shares in the company, valued at approximately $622,687.05. This represents a 12.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,075 shares of company stock valued at $2,007,349. 0.28% of the stock is currently owned by insiders.

RB Global Trading Up 1.4%

Shares of NYSE RBA opened at $105.74 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.21 and a current ratio of 1.31. RB Global, Inc. has a 52-week low of $70.38 and a 52-week high of $109.25. The firm has a 50 day moving average price of $103.80 and a two-hundred day moving average price of $97.89. The stock has a market cap of $19.58 billion, a P/E ratio of 52.09, a price-to-earnings-growth ratio of 3.71 and a beta of 0.78.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the firm posted $0.90 EPS. The company’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Thursday, May 29th. RB Global’s dividend payout ratio is currently 57.14%.

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.