Louisiana State Employees Retirement System Purchases Shares of 53,800 RB Global, Inc. $RBA

Louisiana State Employees Retirement System purchased a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 1st quarter, Holdings Channel reports. The fund purchased 53,800 shares of the business services provider’s stock, valued at approximately $5,157,000.

Other institutional investors have also recently made changes to their positions in the company. MV Capital Management Inc. purchased a new position in shares of RB Global in the fourth quarter worth approximately $29,000. Bayban purchased a new stake in RB Global during the fourth quarter valued at approximately $34,000. Central Pacific Bank Trust Division raised its position in RB Global by 41.8% in 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 during the period. State of Wyoming bought a new position in RB Global in the second quarter worth approximately $46,000. Finally, Nemes Rush Group LLC purchased a new position in shares of RB Global during the 4th quarter worth $54,000. Institutional investors own 95.37% of the company’s stock.

Insider Transactions at RB Global

In other news, Director Deborah Stein acquired 425 shares of RB Global stock in a transaction on Tuesday, May 19th. The shares were bought at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the acquisition, the director directly owned 1,825 shares of the company’s stock, valued at $188,248.75. This trade represents a 30.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.57% of the stock is currently owned by company insiders.

RB Global Price Performance

RBA stock opened at $115.42 on Friday. RB Global, Inc. has a one year low of $93.58 and a one year high of $119.58. The company’s fifty day moving average price is $105.89 and its 200-day moving average price is $105.25. 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 company has a market capitalization of $21.46 billion, a PE ratio of 53.68, a price-to-earnings-growth ratio of 1.84 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the company posted $0.89 EPS. On average, equities analysts anticipate that RB Global, Inc. will post 4.09 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. RB Global’s dividend payout ratio (DPR) is 57.67%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RBA. Stephens reissued an “equal weight” rating and set a $96.00 price objective on shares of RB Global in a research report on Tuesday, May 5th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Barclays initiated coverage on RB Global in a research report on Thursday, May 28th. They set an “overweight” rating and a $124.00 target price on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of RB Global in a report on Tuesday, May 26th. Finally, Royal Bank Of Canada upped their price target on RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $126.12.

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.