RB Global, Inc. (NYSE:RBA) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 287,684 shares of the business services provider’s stock after acquiring an additional 3,192 shares during the period. Retirement Systems of Alabama’s holdings in RB Global were worth $23,156,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Arlington Partners LLC boosted its holdings in RB Global by 22.3% in the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock worth $3,958,000 after purchasing an additional 8,961 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of RB Global by 57.1% in the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock valued at $80,076,000 after buying an additional 357,761 shares during the period. Canada Pension Plan Investment Board grew its position in shares of RB Global by 132.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 28,300 shares of the business services provider’s stock valued at $2,158,000 after buying an additional 16,100 shares during the last quarter. Forsta AP Fonden raised its stake in RB Global by 16.1% during the third quarter. Forsta AP Fonden now owns 43,300 shares of the business services provider’s stock worth $3,489,000 after acquiring an additional 6,000 shares during the period. Finally, New York State Teachers Retirement System bought a new position in RB Global in the second quarter worth about $7,101,000. 95.37% of the stock is currently owned by institutional investors.

RB Global Price Performance

Shares of NYSE:RBA opened at $94.87 on Friday. The company has a market capitalization of $17.50 billion, a PE ratio of 51.56, a price-to-earnings-growth ratio of 4.61 and a beta of 0.95. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. The stock has a fifty day moving average of $89.95 and a 200-day moving average of $83.51. RB Global, Inc. has a one year low of $60.84 and a one year high of $99.79.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Wednesday, November 27th. RB Global’s dividend payout ratio is 63.04%.

Insider Buying and Selling

In related news, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the sale, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,261,134.93. This represents a 17.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on RBA. BMO Capital Markets increased their target price on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Bank of America increased their price objective on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. Royal Bank of Canada boosted their target price on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. CIBC lifted their price target on RB Global from $102.00 to $109.00 and gave the company an “outperformer” rating in a research report on Thursday. Finally, Robert W. Baird boosted their price objective on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.36.

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.