North Dakota State Investment Board Invests $672,000 in RB Global, Inc. $RBA

North Dakota State Investment Board purchased a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,537 shares of the business services provider’s stock, valued at approximately $672,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Geneos Wealth Management Inc. lifted its holdings in RB Global by 21.9% during the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after acquiring an additional 97 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in RB Global by 5.4% during the third quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock worth $221,000 after acquiring an additional 105 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in RB Global by 41.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock worth $37,000 after acquiring an additional 107 shares in the last quarter. Sigma Planning Corp lifted its holdings in RB Global by 1.4% during the fourth quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider’s stock worth $866,000 after acquiring an additional 114 shares in the last quarter. Finally, Xponance Inc. lifted its holdings in RB Global by 0.5% during the third quarter. Xponance Inc. now owns 22,039 shares of the business services provider’s stock worth $2,388,000 after acquiring an additional 118 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RBA. BMO Capital Markets reiterated an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Stephens reiterated an “equal weight” rating and set a $96.00 target price on shares of RB Global in a report on Tuesday, May 5th. Royal Bank Of Canada lifted their target price on RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings upgraded RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $126.43.

RB Global Price Performance

NYSE:RBA opened at $102.68 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.07 and a current ratio of 1.14. The stock’s 50-day simple moving average is $101.24 and its 200 day simple moving average is $103.64. The company has a market cap of $19.09 billion, a P/E ratio of 47.76, a P/E/G ratio of 1.67 and a beta of 0.57. RB Global, Inc. has a 52-week low of $93.58 and a 52-week high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.RB Global’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 earnings per share. As a group, sell-side analysts forecast that RB Global, Inc. will post 4.09 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Wednesday, May 27th will be given a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. RB Global’s payout ratio is currently 57.67%.

Insiders Place Their Bets

In other RB Global news, Director Deborah Stein purchased 425 shares of the stock in a transaction on Tuesday, May 19th. The shares were purchased at an average price of $103.15 per share, with a total value of $43,838.75. Following the completion of the transaction, the director directly owned 1,825 shares in the company, valued at $188,248.75. This represents a 30.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is currently owned by company insiders.

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.