Alaska Permanent Fund Corp Buys 4,028 Shares of RB Global, Inc. (NYSE:RBA)

Alaska Permanent Fund Corp boosted its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,187 shares of the business services provider’s stock after acquiring an additional 4,028 shares during the period. Alaska Permanent Fund Corp’s holdings in RB Global were worth $2,421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Yousif Capital Management LLC lifted its holdings in RB Global by 41.7% during the fourth quarter. Yousif Capital Management LLC now owns 4,943 shares of the business services provider’s stock worth $331,000 after acquiring an additional 1,455 shares in the last quarter. Cumberland Partners Ltd acquired a new stake in shares of RB Global in the 4th quarter valued at about $370,000. GAMMA Investing LLC acquired a new stake in shares of RB Global in the 4th quarter valued at about $54,000. Signaturefd LLC raised its stake in shares of RB Global by 11.0% in the 4th quarter. Signaturefd LLC now owns 1,917 shares of the business services provider’s stock valued at $128,000 after purchasing an additional 190 shares during the period. Finally, Cooke & Bieler LP raised its stake in shares of RB Global by 3.6% in the 4th quarter. Cooke & Bieler LP now owns 3,627,957 shares of the business services provider’s stock valued at $242,674,000 after purchasing an additional 124,815 shares during the period. 95.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RBA shares. StockNews.com raised RB Global from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Raymond James lifted their target price on RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Scotiabank lifted their target price on RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a research report on Wednesday. Finally, Royal Bank of Canada lifted their price target on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.00.

RB Global Stock Performance

Shares of NYSE:RBA traded down $0.06 during trading on Thursday, reaching $73.31. 36,928 shares of the stock were exchanged, compared to its average volume of 802,427. RB Global, Inc. has a 12 month low of $51.07 and a 12 month high of $77.99. The firm has a market cap of $13.40 billion, a PE ratio of 86.32, a PEG ratio of 5.51 and a beta of 0.87. The stock has a 50-day moving average price of $74.33 and a 200-day moving average price of $68.01. The company has a current ratio of 1.35, a quick ratio of 1.23 and a debt-to-equity ratio of 0.61.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.14. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. RB Global had a return on equity of 4.19% and a net margin of 5.61%. The firm’s revenue for the quarter was up 134.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 earnings per share. Research analysts expect that RB Global, Inc. will post 1.9 EPS for the current fiscal year.

Insider Activity at RB Global

In other RB Global news, insider Darren Jeffrey Watt sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the transaction, the insider now directly owns 21,103 shares in the company, valued at $1,625,986.15. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CRO James J. Jeter sold 11,416 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $76.32, for a total value of $871,269.12. Following the completion of the sale, the executive now directly owns 30,915 shares in the company, valued at $2,359,432.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Darren Jeffrey Watt sold 1,100 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total value of $84,755.00. Following the completion of the sale, the insider now owns 21,103 shares of the company’s stock, valued at $1,625,986.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,816 shares of company stock worth $1,133,055. Company insiders own 4.32% of the company’s stock.

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.