Public Employees Retirement System of Ohio Raises Stake in RB Global, Inc. $RBA

Key Points

• Public Employees Retirement System of Ohio increased its RB Global stake by 9.2% in the first quarter, bringing its holdings to 207,778 shares valued at about $19.9 million.
• Analyst sentiment remains mostly positive, with RB Global carrying an average “Buy” rating and a consensus price target of $127.57, though some firms recently trimmed ratings or targets.
• RB Global reported Q1 earnings of $1.01 per share, topping estimates, while revenue rose 11.4% year over year to $888.01 million; the company also paid a quarterly dividend of $0.31 per share.

Public Employees Retirement System of Ohio lifted its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 9.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 207,778 shares of the business services provider's stock after purchasing an additional 17,489 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.11% of RB Global worth $19,873,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RBA. MV Capital Management Inc. purchased a new stake in RB Global during the fourth quarter worth about $29,000. Bayban purchased a new position in RB Global in the fourth quarter valued at about $34,000. State of Wyoming acquired a new stake in shares of RB Global during the 2nd quarter valued at approximately $46,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of RB Global during the 1st quarter valued at approximately $43,000. Finally, Nemes Rush Group LLC purchased a new stake in shares of RB Global during the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Analysts Set New Price Targets

RBA has been the subject of several research analyst reports. Zacks Research raised RB Global from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 3rd. Barclays decreased their target price on RB Global from $124.00 to $121.00 and set an "overweight" rating on the stock in a research report on Wednesday. Wall Street Zen cut RB Global from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. BMO Capital Markets reaffirmed an "outperform" rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of RB Global in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $127.57.

Insider Transactions at RB Global

In other news, Director Deborah Stein purchased 425 shares of the stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of $103.15 per share, with a total value of $43,838.75. Following the completion of the transaction, the director owned 1,825 shares in the company, valued at approximately $188,248.75. The trade was a 30.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.57% of the company's stock.

RB Global Stock Performance

Shares of RBA opened at $111.68 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.07 and a current ratio of 1.14. The company has a market capitalization of $20.71 billion, a price-to-earnings ratio of 51.95, a PEG ratio of 1.75 and a beta of 0.55. The company's 50 day simple moving average is $108.82 and its 200 day simple moving average is $106.35. RB Global, Inc. has a 1 year low of $93.58 and a 1 year high of $119.58.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.04. The firm had revenue of $888.01 million during the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. RB Global's revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 earnings per share. On average, sell-side analysts predict that RB Global, Inc. will post 4.16 EPS for the current year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, May 27th were issued a $0.31 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. RB Global's dividend payout ratio (DPR) is presently 57.67%.

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.

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