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

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,324 shares of the business services provider's stock, valued at approximately $534,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CoreCap Advisors LLC increased its stake in shares of RB Global by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after acquiring an additional 117 shares during the period. MV Capital Management Inc. boosted its stake in shares of 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 buying an additional 278 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after acquiring an additional 129 shares during the period. Proficio Capital Partners LLC acquired a new position in RB Global in the fourth quarter valued at approximately $36,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of RB Global during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Insider Buying and Selling

In other RB Global news, CRO James J. Jeter sold 3,500 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was 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 of the company's stock, valued at $1,687,511.46. The trade was a 17.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Adam Dewitt sold 800 shares of the firm's stock in a transaction on 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 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. In the last ninety days, insiders sold 19,075 shares of company stock valued at $2,007,349. 0.28% of the stock is currently owned by insiders.

RB Global Trading Down 0.9%

Shares of NYSE RBA traded down $0.91 during trading on Wednesday, hitting $104.70. 1,263,630 shares of the company were exchanged, compared to its average volume of 977,467. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.21 and a current ratio of 1.31. RB Global, Inc. has a 12-month low of $70.38 and a 12-month high of $109.25. The company has a fifty day moving average price of $103.80 and a 200-day moving average price of $97.89. The firm has a market capitalization of $19.39 billion, a PE ratio of 51.58, a P/E/G ratio of 3.71 and a beta of 0.78.

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

RB Global Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Raymond James Financial increased their target price on shares of RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. National Bankshares cut their price objective on RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. CIBC upped their target price 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 research report on Saturday. Finally, National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Two investment 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, RB Global presently has an average rating of "Moderate Buy" and a consensus price target of $114.50.

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.