New York State Common Retirement Fund Sells 3,012 Shares of RB Global, Inc. (NYSE:RBA)

New York State Common Retirement Fund reduced its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 225,718 shares of the business services provider's stock after selling 3,012 shares during the quarter. New York State Common Retirement Fund owned about 0.12% of RB Global worth $22,640,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RBA. Jones Financial Companies Lllp boosted its position 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 valued at $35,000 after purchasing an additional 129 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in RB Global during the fourth quarter valued at approximately $36,000. HighTower Advisors LLC raised its position in RB Global by 8.0% during the fourth quarter. HighTower Advisors LLC now owns 17,222 shares of the business services provider's stock valued at $1,554,000 after acquiring an additional 1,271 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of RB Global by 19.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,485 shares of the business services provider's stock valued at $314,000 after buying an additional 563 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its position in shares of RB Global by 4.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,762 shares of the business services provider's stock valued at $339,000 after buying an additional 176 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

RB Global Price Performance

RBA stock traded down $0.29 during midday trading on Friday, hitting $110.06. 1,041,186 shares of the stock were exchanged, compared to its average volume of 960,314. The stock's 50-day moving average price is $106.33 and its 200-day moving average price is $99.62. The stock has a market cap of $20.38 billion, a price-to-earnings ratio of 54.22, a PEG ratio of 2.54 and a beta of 0.77. RB Global, Inc. has a fifty-two week low of $70.38 and a fifty-two week high of $111.71. 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 (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.89. The firm had revenue of $1.06 billion during 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 firm'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 earnings per share. Research analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Thursday, May 29th. RB Global's payout ratio is currently 57.14%.

Insider Activity

In other news, insider Darren Jeffrey Watt sold 7,400 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $814,000.00. Following the completion of the sale, the insider owned 24,874 shares in the company, valued at approximately $2,736,140. This represents a 22.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew John Fesler sold 9,075 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total value of $950,334.00. Following the sale, the insider owned 5,532 shares of the company's stock, valued at approximately $579,311.04. This represents a 62.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,133 shares of company stock worth $7,843,729 in the last quarter. 4.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RBA. National Bankshares decreased their price target on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Royal Bank Of Canada set a $125.00 target price on RB Global and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Robert W. Baird increased their target price on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. CIBC increased their price target on RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research report on Friday. Finally, Raymond James Financial increased their price objective on RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $116.21.

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.