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

Retirement Systems of Alabama grew its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 287,684 shares of the business services provider’s stock after acquiring an additional 3,192 shares during the quarter. Retirement Systems of Alabama owned about 0.16% of RB Global worth $23,156,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of RBA. Weil Company Inc. increased its position in RB Global by 1.2% during the third quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock worth $912,000 after purchasing an additional 132 shares during the last quarter. Advisor OS LLC grew its stake in shares of RB Global by 1.9% during the 2nd quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock valued at $638,000 after buying an additional 156 shares during the period. Blue Trust Inc. increased its holdings in shares of RB Global by 11.9% during the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock worth $113,000 after buying an additional 157 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of RB Global by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after buying an additional 210 shares during the period. Finally, CWM LLC boosted its holdings in RB Global by 6.3% in the third quarter. CWM LLC now owns 3,956 shares of the business services provider’s stock valued at $318,000 after acquiring an additional 235 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the firm’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 transaction of $1,505,569.77. Following the completion of the sale, the chief executive officer now owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. This trade represents a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.32% of the company’s stock.

RB Global Price Performance

RBA opened at $94.87 on Friday. RB Global, Inc. has a twelve month low of $60.84 and a twelve month high of $99.79. The firm has a market cap of $17.50 billion, a price-to-earnings ratio of 51.56, a PEG ratio of 4.61 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The company has a fifty day simple moving average of $89.95 and a 200 day simple moving average of $83.51.

RB Global Announces Dividend

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

Wall Street Analyst Weigh In

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

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.