Strs Ohio Decreases Holdings in RB Global, Inc. $RBA

Key Points

• Strs Ohio sharply reduced its RB Global stake in the fourth quarter, cutting holdings by 91.7% and selling 59,537 shares. It ended the period with 5,386 shares valued at about $554,000.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 95.37% of the company. Several firms, including Massachusetts Financial Services and Kensico Capital, also increased their positions.
• Analysts and earnings trends look positive: RB Global beat quarterly EPS and revenue estimates, and analysts mostly rate the stock a Buy or equivalent with a consensus “Moderate Buy” and average price target of $126.43. The company also announced a quarterly dividend of $0.31 per share.

Strs Ohio lessened its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 91.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,386 shares of the business services provider's stock after selling 59,537 shares during the period. Strs Ohio's holdings in RB Global were worth $554,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its position in shares of RB Global by 7.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider's stock valued at $1,162,370,000 after acquiring an additional 705,423 shares during the period. Kensico Capital Management Corp lifted its position in RB Global by 152.0% during the third quarter. Kensico Capital Management Corp now owns 1,044,000 shares of the business services provider's stock valued at $113,128,000 after purchasing an additional 629,700 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of RB Global by 58.7% in the 3rd quarter. Bank of America Corp DE now owns 1,533,783 shares of the business services provider's stock worth $166,201,000 after acquiring an additional 567,431 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of RB Global in the third quarter worth $53,111,000. Finally, Invesco Ltd. increased its stake in shares of RB Global by 17.7% in the third quarter. Invesco Ltd. now owns 2,863,540 shares of the business services provider's stock worth $310,293,000 after buying an additional 430,729 shares during the period. Hedge funds and other institutional investors own 95.37% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RBA shares. BMO Capital Markets reaffirmed an "outperform" rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a research note on Tuesday. Weiss Ratings raised shares of RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, February 26th. Royal Bank Of Canada lifted their target price on shares of RB Global from $146.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday. Raymond James Financial lifted their target price on shares of RB Global from $135.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 20th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $96.00 target price on shares of RB Global in a research note on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $126.43.

Insider Buying and Selling at RB Global

In other RB Global news, Director Deborah Stein bought 400 shares of RB Global stock in a transaction dated Wednesday, March 18th. The shares were purchased at an average cost of $98.74 per share, with a total value of $39,496.00. Following the transaction, the director directly owned 1,400 shares of the company's stock, valued at $138,236. This represents a 40.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is owned by corporate insiders.

RB Global Stock Down 0.2%

NYSE:RBA opened at $103.18 on Friday. The firm's 50-day moving average price is $101.15 and its 200-day moving average price is $103.49. The company has a market capitalization of $19.18 billion, a PE ratio of 47.99, a P/E/G ratio of 1.67 and a beta of 0.57. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.02. 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 for the quarter, topping analysts' consensus estimates of $0.97 by $0.04. The firm had revenue of $1.21 billion for 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%. The company's revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS. On average, equities analysts predict that RB Global, Inc. will post 4.04 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th will be given a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. RB Global's dividend payout ratio is currently 57.67%.

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.

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