Oregon Public Employees Retirement Fund Decreases Stock Holdings in RB Global, Inc. (NYSE:RBA)

Oregon Public Employees Retirement Fund lowered its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,391 shares of the business services provider’s stock after selling 119 shares during the period. Oregon Public Employees Retirement Fund’s holdings in RB Global were worth $3,750,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RBA. Wilson Asset Management International PTY Ltd. lifted its position in RB Global by 24.9% during the first quarter. Wilson Asset Management International PTY Ltd. now owns 145,588 shares of the business services provider’s stock valued at $14,602,000 after acquiring an additional 29,061 shares during the last quarter. Keybank National Association OH increased its position in shares of RB Global by 8.4% during the first quarter. Keybank National Association OH now owns 7,967 shares of the business services provider’s stock worth $799,000 after purchasing an additional 619 shares in the last quarter. Kampmann Melissa S. lifted its holdings in shares of RB Global by 0.5% during the 1st quarter. Kampmann Melissa S. now owns 29,900 shares of the business services provider’s stock valued at $2,999,000 after purchasing an additional 150 shares during the last quarter. Peregrine Capital Management LLC boosted its position in shares of RB Global by 3.0% in the 1st quarter. Peregrine Capital Management LLC now owns 72,607 shares of the business services provider’s stock worth $7,282,000 after purchasing an additional 2,097 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its position in shares of RB Global by 8.4% in the 1st quarter. New York State Teachers Retirement System now owns 106,773 shares of the business services provider’s stock worth $10,709,000 after purchasing an additional 8,302 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

Shares of NYSE:RBA opened at $105.73 on Friday. RB Global, Inc. has a twelve month low of $70.38 and a twelve month high of $109.25. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.50. The company has a market cap of $19.58 billion, a PE ratio of 52.08, a price-to-earnings-growth ratio of 3.75 and a beta of 0.77. The company’s 50 day moving average is $104.97 and its 200 day moving average is $98.35.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm earned $0.90 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, sell-side analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Thursday, May 29th. RB Global’s dividend payout ratio is currently 57.14%.

Insider Buying and Selling

In other news, CRO James J. Jeter sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $106.96, for a total value of $213,920.00. Following the completion of the transaction, the executive owned 14,167 shares of the company’s stock, valued at $1,515,302.32. The trade was a 12.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Darren Jeffrey Watt sold 3,700 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $392,829.00. Following the sale, the insider directly owned 24,874 shares in the company, valued at approximately $2,640,872.58. This trade represents a 12.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,075 shares of company stock valued at $2,007,349 over the last quarter. 4.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. CIBC upped their target price 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 Bank Financial downgraded shares of RB Global from a “strong-buy” rating to a “hold” rating in a report on Sunday, May 25th. Royal Bank Of Canada set a $125.00 target price on shares of RB Global and gave the stock an “outperform” rating in a research note on Wednesday. Raymond James Financial upped their price target on shares of RB Global from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Finally, National Bankshares lowered their price objective on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.79.

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.