Maryland State Retirement & Pension System Has $882,000 Stake in RB Global, Inc. (NYSE:RBA)

Maryland State Retirement & Pension System cut its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,775 shares of the business services provider’s stock after selling 697 shares during the quarter. Maryland State Retirement & Pension System’s holdings in RB Global were worth $882,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RBA. Raymond James Financial Inc. acquired a new stake in shares of RB Global in the 4th quarter valued at about $266,148,000. Vontobel Holding Ltd. raised its holdings in shares of RB Global by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after acquiring an additional 753,700 shares during the last quarter. National Bank of Canada FI increased its holdings in RB Global by 309.6% during the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock worth $65,014,000 after purchasing an additional 610,843 shares in the last quarter. FMR LLC raised its stake in shares of RB Global by 60.5% in the third quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock worth $95,057,000 after purchasing an additional 445,004 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of RB Global by 17.1% in the third quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock valued at $196,109,000 after purchasing an additional 354,803 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

RB Global stock opened at $99.14 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The business’s 50 day simple moving average is $95.35 and its 200 day simple moving average is $90.91. RB Global, Inc. has a 12 month low of $69.83 and a 12 month high of $106.90. The company has a market cap of $18.32 billion, a price-to-earnings ratio of 49.33, a PEG ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the company earned $0.82 EPS. Sell-side analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.29 per share. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.17%. RB Global’s dividend payout ratio is presently 57.71%.

Analysts Set New Price Targets

RBA has been the topic of a number of analyst reports. Raymond James lifted their price objective on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. BMO Capital Markets upped their price objective on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Robert W. Baird lifted their target price on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Royal Bank of Canada boosted their target price on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, CIBC decreased their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $107.64.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 15,700 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares of the company’s stock, valued at $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO James J. Jeter sold 7,597 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.85, for a total value of $743,366.45. Following the sale, the executive now owns 20,267 shares in the company, valued at approximately $1,983,125.95. The trade was a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.