Strs Ohio Invests $1.85 Million in RB Global, Inc. $RBA

Strs Ohio bought a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 18,435 shares of the business services provider’s stock, valued at approximately $1,849,000.

Several other large investors also recently modified their holdings of the stock. Geneos Wealth Management Inc. grew its holdings in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after purchasing an additional 97 shares in the last quarter. Intech Investment Management LLC boosted its stake in RB Global by 77.0% in the first quarter. Intech Investment Management LLC now owns 77,800 shares of the business services provider’s stock valued at $7,807,000 after buying an additional 33,845 shares in the last quarter. Jane Street Group LLC boosted its stake in RB Global by 1,469.4% in the first quarter. Jane Street Group LLC now owns 365,071 shares of the business services provider’s stock valued at $36,617,000 after buying an additional 341,809 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in RB Global by 2.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 451,101 shares of the business services provider’s stock valued at $45,245,000 after buying an additional 12,000 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in RB Global in the first quarter valued at about $4,103,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RBA has been the topic of several research analyst reports. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. National Bankshares raised their price objective on RB Global from $112.00 to $113.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th. CIBC raised their price objective on RB Global from $118.00 to $121.00 and gave the company an “outperformer” rating in a research note on Friday, July 18th. Raymond James Financial increased their target price on RB Global from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Finally, National Bank Financial downgraded RB Global from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 25th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $124.33.

RB Global Price Performance

Shares of RBA opened at $117.50 on Wednesday. RB Global, Inc. has a 1 year low of $78.08 and a 1 year high of $118.79. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. The company has a market capitalization of $21.81 billion, a price-to-earnings ratio of 58.17, a price-to-earnings-growth ratio of 2.71 and a beta of 0.65. The business has a 50-day moving average of $112.76 and a 200-day moving average of $105.60.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the company earned $0.94 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from RB Global’s previous quarterly dividend of $0.29. The ex-dividend date is Thursday, August 28th. RB Global’s dividend payout ratio is 61.39%.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 45,658 shares of the firm’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the completion of the transaction, the chief executive officer directly owned 107,569 shares in the company, valued at $11,832,590. This trade represents a 29.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darren Jeffrey Watt sold 7,400 shares of the firm’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $814,000.00. Following the transaction, the insider owned 24,874 shares of the company’s stock, valued at $2,736,140. This trade represents a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,209 shares of company stock worth $6,090,521 over the last ninety days. 0.28% of the stock is owned by insiders.

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.