Retirement Systems of Alabama Cuts Stock Holdings in RB Global, Inc. $RBA

Retirement Systems of Alabama lowered its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 13.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 335,314 shares of the business services provider’s stock after selling 51,546 shares during the quarter. Retirement Systems of Alabama’s holdings in RB Global were worth $36,335,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Spire Wealth Management grew its stake in shares of RB Global by 1,090.6% in the 3rd quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock worth $41,000 after acquiring an additional 349 shares in the last quarter. State of Wyoming bought a new stake in RB Global in the 2nd quarter worth about $46,000. Whipplewood Advisors LLC grew its position in RB Global by 42.9% in the 2nd quarter. Whipplewood Advisors LLC now owns 456 shares of the business services provider’s stock worth $48,000 after purchasing an additional 137 shares in the last quarter. SouthState Corp increased its stake in RB Global by 75.6% in the 2nd quarter. SouthState Corp now owns 453 shares of the business services provider’s stock valued at $48,000 after buying an additional 195 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position 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 buying an additional 97 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RBA has been the topic of a number of research analyst reports. Bank of America cut their target price on RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. National Bank Financial upgraded RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective for the company in a research note on Monday, November 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of RB Global in a research note on Thursday. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Raymond James Financial raised their price objective on shares of RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, RB Global has a consensus rating of “Moderate Buy” and a consensus price target of $124.13.

RB Global Stock Down 0.8%

Shares of NYSE RBA opened at $115.57 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.15. The stock has a market capitalization of $21.48 billion, a PE ratio of 55.30, a P/E/G ratio of 2.17 and a beta of 0.57. RB Global, Inc. has a one year low of $86.68 and a one year high of $119.58. The business’s fifty day moving average price is $104.16 and its 200-day moving average price is $107.29.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.10. RB Global had a return on equity of 9.66% and a net margin of 9.65%.The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm posted $0.71 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

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

Insider Buying and Selling

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

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.