Kentucky Retirement Systems Insurance Trust Fund Invests $534,000 in RB Global, Inc. (NYSE:RBA)

Kentucky Retirement Systems Insurance Trust Fund 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 & Exchange Commission. The fund acquired 5,324 shares of the business services provider's stock, valued at approximately $534,000.

A number of other institutional investors have also recently added to or reduced their stakes in RBA. Sanctuary Advisors LLC boosted its holdings in RB Global by 5.1% during the fourth quarter. Sanctuary Advisors LLC now owns 6,188 shares of the business services provider's stock worth $563,000 after buying an additional 303 shares in the last quarter. Coyle Financial Counsel LLC raised its position in RB Global by 10.7% during the fourth quarter. Coyle Financial Counsel LLC now owns 23,528 shares of the business services provider's stock worth $2,122,000 after acquiring an additional 2,271 shares during the last quarter. Advisor OS LLC raised its position in RB Global by 8.2% during the fourth quarter. Advisor OS LLC now owns 6,972 shares of the business services provider's stock worth $629,000 after acquiring an additional 527 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in RB Global by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 37,510 shares of the business services provider's stock worth $3,384,000 after acquiring an additional 210 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in RB Global during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 95.37% of the company's stock.

Insider Activity at RB Global

In related news, insider Darren Jeffrey Watt sold 3,700 shares of the business's 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 now directly owns 24,874 shares in the company, valued at approximately $2,640,872.58. The trade was 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 the SEC website. Also, Director Adam Dewitt sold 800 shares of the business's stock in a transaction that occurred 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 owns 5,865 shares of the company's stock, valued at approximately $622,687.05. The trade was a 12.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,075 shares of company stock worth $2,007,349. 4.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RBA. Raymond James Financial lifted their target price 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 Bankshares cut their target price 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. Wall Street Zen upgraded shares of RB Global from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. CIBC lifted their target price 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. Finally, 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, RB Global currently has an average rating of "Moderate Buy" and an average target price of $114.50.

RB Global Trading Up 0.3%

Shares of NYSE:RBA traded up $0.34 during trading on Friday, reaching $105.73. The stock had a trading volume of 1,232,517 shares, compared to its average volume of 957,227. The business has a fifty day moving average price of $104.29 and a 200-day moving average price of $98.08. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The stock has a market cap of $19.58 billion, a P/E ratio of 52.09, a PEG ratio of 3.76 and a beta of 0.78. RB Global, Inc. has a fifty-two week low of $70.38 and a fifty-two week high of $109.25.

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 for the quarter, meeting analysts' consensus estimates of $0.89. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The company's revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 earnings per share. As a group, analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal 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 given 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 of this dividend was Thursday, May 29th. RB Global's dividend payout ratio is presently 57.14%.

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.