Strs Ohio Increases Stock Position in RB Global, Inc. $RBA

Strs Ohio boosted its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 153.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,923 shares of the business services provider’s stock after buying an additional 39,292 shares during the period. Strs Ohio’s holdings in RB Global were worth $7,034,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of RB Global in the second quarter valued at $255,798,000. JARISLOWSKY FRASER Ltd bought a new position in RB Global in the 3rd quarter worth about $195,640,000. Massachusetts Financial Services Co. MA grew its holdings in RB Global by 7.0% during the 3rd 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 buying an additional 705,423 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of RB Global by 10.3% during the third quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock valued at $781,862,000 after buying an additional 672,450 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of RB Global by 85.1% in the second quarter. TD Asset Management Inc now owns 938,902 shares of the business services provider’s stock worth $99,546,000 after buying an additional 431,649 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Raymond James Financial boosted their price objective on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Royal Bank Of Canada raised their price target on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 7th. National Bankshares cut their price objective on RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a report on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RB Global in a research note on Thursday. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, RB Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.13.

Insider Activity

In other RB Global news, CEO James Francis Kessler sold 20,742 shares of the stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total value of $2,385,330.00. Following the completion of the sale, the chief executive officer owned 107,569 shares in the company, valued at approximately $12,370,435. This trade represents a 16.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Deborah Stein bought 1,000 shares of RB Global stock in a transaction dated Thursday, November 13th. The shares were acquired at an average cost of $101.26 per share, for a total transaction of $101,260.00. Following the completion of the purchase, the director directly owned 1,000 shares of the company’s stock, valued at approximately $101,260. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.28% of the company’s stock.

RB Global Price Performance

Shares of RB Global stock opened at $116.96 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.15. RB Global, Inc. has a one year low of $86.68 and a one year high of $119.58. The business’s 50 day simple moving average is $104.52 and its two-hundred day simple moving average is $107.35. The stock has a market capitalization of $21.74 billion, a P/E ratio of 55.96, a price-to-earnings-growth ratio of 2.17 and a beta of 0.57.

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

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be given a $0.31 dividend. The ex-dividend date is Monday, February 9th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. RB Global’s payout ratio is presently 59.33%.

About RB Global

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.