RB Global, Inc. $RBA Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 57.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,848 shares of the business services provider’s stock after selling 129,870 shares during the period. New York State Common Retirement Fund owned 0.05% of RB Global worth $10,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. LPL Financial LLC lifted its stake in RB Global by 0.4% during the first quarter. LPL Financial LLC now owns 70,586 shares of the business services provider’s stock worth $7,080,000 after purchasing an additional 261 shares during the last quarter. XTX Topco Ltd acquired a new stake in RB Global during the first quarter worth approximately $236,000. Natixis Advisors LLC lifted its position in shares of RB Global by 56.6% during the 1st quarter. Natixis Advisors LLC now owns 29,569 shares of the business services provider’s stock worth $2,966,000 after buying an additional 10,692 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in shares of RB Global by 75.9% in the 1st quarter. Atria Wealth Solutions Inc. now owns 6,189 shares of the business services provider’s stock valued at $621,000 after buying an additional 2,671 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new position in shares of RB Global in the 1st quarter valued at $249,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Michael Thomas Steven Lewis sold 2,151 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.15, for a total value of $254,140.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Deborah Stein acquired 1,000 shares of the stock in a transaction on Thursday, November 13th. The stock was acquired at an average cost of $101.26 per share, for a total transaction of $101,260.00. Following the acquisition, the director directly owned 1,000 shares in the company, valued at $101,260. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 4.32% of the company’s stock.

RB Global Trading Down 0.1%

Shares of RBA stock opened at $98.11 on Friday. The company has a market capitalization of $18.22 billion, a P/E ratio of 46.94, a price-to-earnings-growth ratio of 2.09 and a beta of 0.56. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $101.15 and its two-hundred day moving average is $107.06. RB Global, Inc. has a twelve month low of $86.68 and a twelve month high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.10. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. RB Global had a return on equity of 9.66% and a net margin of 9.65%.The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the company earned $0.71 earnings per share. Equities analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, November 26th. RB Global’s payout ratio is 59.33%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RBA shares. National Bankshares cut their price target on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 9th. Raymond James Financial lifted their target price on RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Bank of America decreased their target price on RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research report on Friday, November 7th. National Bank Financial raised RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price target on the stock in a research report on Monday, November 24th. Finally, Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, RB Global presently has a consensus rating of “Moderate Buy” and an average target price of $122.88.

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.