Kentucky Retirement Systems Takes $1.25 Million Position in RB Global, Inc. (NYSE:RBA)

Kentucky Retirement Systems acquired a new stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,499 shares of the business services provider's stock, valued at approximately $1,254,000.

Other institutional investors also recently made changes to their positions in the company. Natixis Advisors LLC grew its stake in shares of RB Global by 69.5% during 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 during the period. QRG Capital Management Inc. grew its stake in shares of RB Global by 122.2% during 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 during the period. Mawer Investment Management Ltd. grew its stake in shares of RB Global by 15.7% during 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 during the period. Vanguard Group Inc. grew its stake in shares of RB Global by 1.5% during 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 during the period. Finally, MetLife Investment Management LLC grew its stake in shares of RB Global by 9.2% during 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 during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RBA. Wall Street Zen raised shares of RB Global from a "hold" rating to a "buy" rating in a research note on Saturday. Robert W. Baird upped their price target 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. Raymond James Financial upped their price target on shares of RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. 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. Finally, CIBC upped their price target 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, RB Global presently has an average rating of "Moderate Buy" and an average target price of $114.50.

RB Global Stock Down 0.9%

RBA stock traded down $0.91 during trading on Wednesday, reaching $104.70. The stock had a trading volume of 1,290,777 shares, compared to its average volume of 973,624. RB Global, Inc. has a 1-year low of $70.38 and a 1-year high of $109.25. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $19.39 billion, a P/E ratio of 51.58, a PEG ratio of 3.76 and a beta of 0.78. The firm has a fifty day moving average price of $103.96 and a 200 day moving average price of $97.94.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, hitting analysts' consensus estimates of $0.89. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business posted $0.90 EPS. The firm's revenue was up 4.1% compared to the same quarter last year. On average, equities analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were issued a $0.29 dividend. The ex-dividend date was Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.11%. RB Global's dividend payout ratio is currently 57.14%.

Insider Activity

In other news, CRO James J. Jeter sold 3,500 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $104.38, for a total value of $365,330.00. Following the sale, the executive now owns 16,167 shares in the company, valued at approximately $1,687,511.46. This represents a 17.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Darren Jeffrey Watt sold 3,700 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $392,829.00. Following the completion of the sale, the insider now owns 24,874 shares in the company, valued at approximately $2,640,872.58. This trade represents a 12.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,075 shares of company stock worth $2,007,349. 4.32% of the stock is currently owned by corporate insiders.

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.