RB Global, Inc. (NYSE:RBA) Position Reduced by Retirement Systems of Alabama

Retirement Systems of Alabama cut its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 0.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 384,967 shares of the business services provider's stock after selling 3,293 shares during the period. Retirement Systems of Alabama owned approximately 0.21% of RB Global worth $38,612,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of RB Global by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock valued at $2,248,060,000 after purchasing an additional 358,752 shares in the last quarter. Geode Capital Management LLC boosted its stake in RB Global by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider's stock valued at $357,434,000 after acquiring an additional 264,778 shares during the last quarter. Janus Henderson Group PLC grew its holdings in RB Global by 0.6% during the 4th quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider's stock worth $307,033,000 after acquiring an additional 19,895 shares in the last quarter. Boston Partners increased its position in shares of RB Global by 6.9% in the 4th quarter. Boston Partners now owns 3,308,977 shares of the business services provider's stock worth $298,500,000 after purchasing an additional 214,181 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of RB Global in the 4th quarter valued at about $266,148,000. Hedge funds and other institutional investors own 95.37% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RBA. Raymond James Financial boosted 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. CIBC upped their price target on RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a research report on Friday, May 9th. National Bankshares reduced their price objective 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. National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Finally, Robert W. Baird raised their price target on shares of RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $114.50.

RB Global Stock Performance

Shares of RBA traded up $1.45 during midday trading on Tuesday, hitting $105.74. 1,145,562 shares of the stock traded hands, compared to its average volume of 980,123. The business's 50 day moving average price is $103.64 and its two-hundred day moving average price is $97.84. The firm has a market capitalization of $19.58 billion, a PE ratio of 52.09 and a beta of 0.78. 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 1-year low of $70.38 and a 1-year high of $109.25.

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

RB Global Dividend Announcement

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 1.10%. The ex-dividend date of this dividend was Thursday, May 29th. RB Global's dividend payout ratio (DPR) is 57.14%.

Insider Activity at RB Global

In other RB Global news, CRO James J. Jeter sold 3,500 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $104.38, for a total value of $365,330.00. Following the sale, the executive now directly owns 16,167 shares in the company, valued at approximately $1,687,511.46. The trade was a 17.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Darren Jeffrey Watt sold 3,700 shares of RB Global stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total transaction of $392,829.00. Following the completion of the transaction, the insider now directly owns 24,874 shares in the company, valued at $2,640,872.58. This represents a 12.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,075 shares of company stock worth $2,007,349 in the last 90 days. Corporate insiders own 0.28% of the company's stock.

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.