207,327 Shares in RB Global, Inc. $RBA Acquired by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio acquired 207,327 RB Global shares worth approximately $24.1 million, while institutional investors collectively owned 95.37% of the company.
• RB Global exceeded quarterly earnings expectations, reporting $1.13 in EPS versus a $1.09 consensus estimate and revenue of $1.66 billion versus expectations of $1.21 billion.
• The company increased its quarterly dividend to $0.33 per share, implying an annualized payout of $1.32 and a 1.5% yield; analysts maintain a “Moderate Buy” consensus with a $128 price target.

Public Employees Retirement System of Ohio acquired a new stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 207,327 shares of the business services provider's stock, valued at approximately $24,131,000. Public Employees Retirement System of Ohio owned 0.11% of RB Global at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Addison Advisors LLC acquired a new stake in RB Global in the second quarter worth $26,000. MV Capital Management Inc. bought a new stake in RB Global in the fourth quarter valued at $29,000. J.Safra Asset Management Corp acquired a new position in shares of RB Global during the second quarter valued at $32,000. Bayban acquired a new position in shares of RB Global during the fourth quarter valued at $34,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of RB Global during the first quarter worth about $43,000. 95.37% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Chloe Harford acquired 1,200 shares of RB Global stock in a transaction on Monday, August 24th. The stock was bought at an average cost of $83.74 per share, with a total value of $100,488.00. Following the completion of the purchase, the director owned 1,200 shares of the company's stock, valued at $100,488. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.57% of the company's stock.

RB Global Trading Up 0.1%

Shares of RBA stock opened at $85.94 on Friday. The stock has a 50-day simple moving average of $103.30 and a 200 day simple moving average of $103.19. The stock has a market capitalization of $15.91 billion, a P/E ratio of 36.88, a P/E/G ratio of 1.47 and a beta of 0.56. RB Global, Inc. has a fifty-two week low of $82.03 and a fifty-two week high of $119.58. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.09 by $0.04. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.21 billion. On average, sell-side analysts expect that RB Global, Inc. will post 4.06 earnings per share for the current fiscal year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be given a $0.33 dividend. This is a positive change from RB Global's previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.5%. RB Global's dividend payout ratio is 56.65%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RBA shares. Barclays dropped their price objective on shares of RB Global from $124.00 to $121.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of RB Global in a research note on Wednesday, August 5th. Stephens restated an "equal weight" rating and issued a $96.00 target price on shares of RB Global in a research report on Tuesday, May 5th. Wall Street Zen lowered shares of RB Global from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Finally, Zacks Research cut RB Global from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.00.

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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