Treasurer of the State of North Carolina Has $8.55 Million Position in RB Global, Inc. (NYSE:RBA)

Treasurer of the State of North Carolina grew its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 18.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,755 shares of the business services provider's stock after purchasing an additional 14,740 shares during the period. Treasurer of the State of North Carolina owned approximately 0.05% of RB Global worth $8,548,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of RBA. Scotia Capital Inc. increased its position in shares of RB Global by 7.6% during the 4th quarter. Scotia Capital Inc. now owns 63,776 shares of the business services provider's stock worth $5,663,000 after purchasing an additional 4,516 shares during the last quarter. APG Asset Management N.V. acquired a new position in RB Global during the fourth quarter worth $8,747,000. Bank of Nova Scotia raised its position in RB Global by 0.6% during the fourth quarter. Bank of Nova Scotia now owns 266,819 shares of the business services provider's stock worth $24,078,000 after acquiring an additional 1,552 shares in the last quarter. FIL Ltd lifted its stake in RB Global by 26.4% in the fourth quarter. FIL Ltd now owns 2,030,696 shares of the business services provider's stock valued at $183,189,000 after acquiring an additional 424,060 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of RB Global by 5.9% in the 4th quarter. Invesco Ltd. now owns 1,919,431 shares of the business services provider's stock valued at $173,152,000 after acquiring an additional 106,627 shares during the period. 95.37% of the stock is currently owned by institutional investors.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 15,700 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares of the company's stock, valued at $10,521,323.89. This trade represents a 12.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO James J. Jeter sold 600 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $98.63, for a total value of $59,178.00. Following the completion of the sale, the executive now owns 19,667 shares in the company, valued at $1,939,756.21. This trade represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,897 shares of company stock valued at $2,338,161 in the last 90 days. 4.32% of the stock is owned by corporate insiders.

RB Global Price Performance

RBA traded up $0.90 during trading on Friday, hitting $97.48. 835,270 shares of the stock traded hands, compared to its average volume of 1,075,953. The business has a 50 day moving average price of $98.15 and a 200 day moving average price of $92.69. The company has a market cap of $18.02 billion, a price-to-earnings ratio of 48.50, a PEG ratio of 4.95 and a beta of 0.90. RB Global, Inc. has a twelve month low of $69.83 and a twelve month high of $106.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.23). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same quarter in the prior year, the firm earned $0.82 EPS. Equities research analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.19%. RB Global's payout ratio is presently 57.71%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RBA. StockNews.com downgraded shares of RB Global from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Raymond James raised their price objective on RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. CIBC decreased their target price on RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a report on Monday, February 3rd. BMO Capital Markets increased their price target on shares of RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, Robert W. Baird boosted their price objective on RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, RB Global has a consensus rating of "Moderate Buy" and an average price target of $108.56.

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.