Retirement Systems of Alabama Sells 3,293 Shares of RB Global, Inc. (NYSE:RBA)

Retirement Systems of Alabama lessened its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 0.21% of RB Global worth $38,612,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of RBA. Sanctuary Advisors LLC increased its holdings in RB Global by 5.1% in the 4th quarter. Sanctuary Advisors LLC now owns 6,188 shares of the business services provider's stock worth $563,000 after purchasing an additional 303 shares in the last quarter. Coyle Financial Counsel LLC increased its holdings in RB Global by 10.7% in the 4th quarter. Coyle Financial Counsel LLC now owns 23,528 shares of the business services provider's stock worth $2,122,000 after purchasing an additional 2,271 shares in the last quarter. Advisor OS LLC increased its holdings in RB Global by 8.2% in the 4th quarter. Advisor OS LLC now owns 6,972 shares of the business services provider's stock worth $629,000 after purchasing an additional 527 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in RB Global by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 37,510 shares of the business services provider's stock worth $3,384,000 after purchasing an additional 210 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in RB Global in the 4th quarter worth about $37,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RBA. Wall Street Zen raised RB Global from a "hold" rating to a "buy" rating in a report on Saturday. National Bankshares decreased their price target on RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. CIBC increased their price target on RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a research note on Friday, May 9th. Robert W. Baird increased their price target on RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Raymond James Financial increased their price target on RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, RB Global has a consensus rating of "Moderate Buy" and a consensus price target of $114.50.

RB Global Trading Up 0.2%

NYSE RBA traded up $0.16 during trading hours on Friday, hitting $104.77. 1,783,948 shares of the company's stock were exchanged, compared to its average volume of 977,914. The stock has a 50-day simple moving average of $103.51 and a 200 day simple moving average of $97.79. RB Global, Inc. has a 1-year low of $70.38 and a 1-year high of $109.25. The firm has a market cap of $19.40 billion, a price-to-earnings ratio of 51.61 and a beta of 0.78. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released 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. RB Global had a return on equity of 8.03% and a net margin of 9.68%. The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter last year, the firm posted $0.90 earnings per share. The firm's revenue was up 4.1% on a year-over-year basis. On average, equities analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

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

Insider Buying and Selling

In other RB Global news, Director Adam Dewitt sold 800 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $622,687.05. This represents a 12.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO James J. Jeter sold 3,500 shares of the 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 completion of the transaction, the executive now owns 16,167 shares in the company, valued at approximately $1,687,511.46. The trade was a 17.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,075 shares of company stock valued at $2,007,349 over the last 90 days. Company insiders own 0.28% of the company's stock.

RB Global 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.