RB Global, Inc. (NYSE:RBA) Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System grew its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,773 shares of the business services provider’s stock after buying an additional 8,302 shares during the period. New York State Teachers Retirement System’s holdings in RB Global were worth $10,709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. CoreCap Advisors LLC raised its stake in RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 117 shares in the last quarter. MV Capital Management Inc. lifted its holdings in RB Global by 5,560.0% in the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock worth $28,000 after purchasing an additional 278 shares during the period. Jones Financial Companies Lllp grew its position in RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after buying an additional 129 shares in the last quarter. SRS Capital Advisors Inc. raised its position in shares of RB Global by 163.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider’s stock worth $58,000 after buying an additional 400 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of RB Global during the 4th quarter worth about $59,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Stock Up 0.3%

Shares of NYSE:RBA opened at $105.73 on Friday. The firm has a 50 day simple moving average of $104.97 and a 200 day simple moving average of $98.35. RB Global, Inc. has a 52 week low of $70.38 and a 52 week high of $109.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.21 and a current ratio of 1.31. The company has a market cap of $19.58 billion, a PE ratio of 52.08, a price-to-earnings-growth ratio of 3.75 and a beta of 0.77.

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

RB Global Announces Dividend

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

Insiders Place Their Bets

In other news, insider Darren Jeffrey Watt sold 3,700 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total value of $392,829.00. Following the completion of the sale, the insider directly owned 24,874 shares of the company’s stock, valued at $2,640,872.58. This represents a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew John Fesler sold 9,075 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total transaction of $950,334.00. Following the sale, the insider owned 5,532 shares of the company’s stock, valued at approximately $579,311.04. This represents a 62.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,075 shares of company stock worth $2,007,349. Insiders own 4.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Royal Bank Of Canada set a $125.00 price objective on shares of RB Global and gave the company an “outperform” rating in a research note on Wednesday. National Bankshares dropped their price target on RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. CIBC raised their price objective on RB Global from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Friday, May 9th. Wall Street Zen upgraded RB Global from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Finally, Robert W. Baird boosted their target price on RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.79.

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.