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

Kentucky Retirement Systems acquired a new position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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 and hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in RB Global by 44.3% during the first quarter. Blue Trust Inc. now owns 1,981 shares of the business services provider's stock worth $199,000 after buying an additional 608 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in RB Global by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 21,600 shares of the business services provider's stock worth $2,166,000 after buying an additional 575 shares during the last quarter. QRG Capital Management Inc. boosted its stake in RB Global by 122.2% during the first quarter. QRG Capital Management Inc. now owns 7,678 shares of the business services provider's stock worth $770,000 after buying an additional 4,222 shares during the last quarter. Ritholtz Wealth Management boosted its stake in RB Global by 65.2% during the first quarter. Ritholtz Wealth Management now owns 10,952 shares of the business services provider's stock worth $1,098,000 after buying an additional 4,322 shares during the last quarter. Finally, Paragon Capital Management Ltd acquired a new position in RB Global during the first quarter worth $224,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RBA shares. Raymond James Financial lifted their target price on RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Wall Street Zen upgraded RB Global from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. National Bankshares reduced their target price on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Robert W. Baird lifted their target price on RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, CIBC lifted their target price on RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, RB Global currently has a consensus rating of "Moderate Buy" and an average price target of $114.50.

Insiders Place Their Bets

In other news, CRO James J. Jeter sold 3,500 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $104.38, for a total transaction of $365,330.00. Following the completion of the transaction, the executive now directly owns 16,167 shares of the company's stock, valued at approximately $1,687,511.46. This represents a 17.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Adam Dewitt sold 800 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $84,936.00. Following the transaction, the director now directly owns 5,865 shares of the company's stock, 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. Insiders have sold a total of 19,075 shares of company stock worth $2,007,349 in the last quarter. 4.32% of the stock is owned by company insiders.

RB Global Trading Up 0.3%

Shares of RBA stock traded up $0.34 on Friday, hitting $105.73. The stock had a trading volume of 1,232,517 shares, compared to its average volume of 957,227. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 1.21. The firm has a market capitalization of $19.58 billion, a P/E ratio of 52.09, a P/E/G ratio of 3.76 and a beta of 0.78. RB Global, Inc. has a 1 year low of $70.38 and a 1 year high of $109.25. The company's 50 day moving average price is $104.29 and its 200-day moving average price is $98.08.

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

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $1.16 annualized dividend and a yield of 1.10%. RB Global's dividend payout ratio (DPR) is 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.