Louisiana State Employees Retirement System Sells 900 Shares of RB Global, Inc. (NYSE:RBA)

by · The Markets Daily

Louisiana State Employees Retirement System decreased its stake in shares of RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 51,100 shares of the business services provider’s stock after selling 900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in RB Global were worth $4,113,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hollencrest Capital Management acquired a new position in RB Global in the first quarter valued at about $33,000. Massmutual Trust Co. FSB ADV increased its position in shares of RB Global by 58.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after acquiring an additional 165 shares in the last quarter. UMB Bank n.a. increased its position in shares of RB Global by 196.0% during the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after acquiring an additional 388 shares in the last quarter. Quarry LP acquired a new position in RB Global during the second quarter worth $53,000. Finally, Nisa Investment Advisors LLC boosted its holdings in RB Global by 33.5% during the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after purchasing an additional 210 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. BMO Capital Markets initiated coverage on shares of RB Global in a research note on Thursday, September 5th. They set an “outperform” rating and a $105.00 target price for the company. Royal Bank of Canada upped their price target on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Robert W. Baird raised their target price on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Raymond James raised their target price on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Bank of America lifted their price target on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.19.

Check Out Our Latest Stock Report on RB Global

Insiders Place Their Bets

In related news, insider Darren Jeffrey Watt sold 2,915 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the transaction, the insider now directly owns 19,271 shares in the company, valued at approximately $1,595,638.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Darren Jeffrey Watt sold 2,915 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the sale, the insider now owns 19,271 shares of the company’s stock, valued at approximately $1,595,638.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO James J. Jeter sold 2,920 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the sale, the executive now directly owns 23,267 shares of the company’s stock, valued at $1,837,162.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,601 shares of company stock worth $3,720,043 in the last 90 days. 4.32% of the stock is currently owned by corporate insiders.

RB Global Price Performance

RBA stock opened at $84.94 on Friday. RB Global, Inc. has a 1 year low of $58.85 and a 1 year high of $87.45. The firm has a 50-day moving average of $83.25 and a 200 day moving average of $78.74. The company has a market cap of $15.53 billion, a P/E ratio of 51.17, a PEG ratio of 5.62 and a beta of 0.93. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20.

RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last issued its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.06. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was down .9% on a year-over-year basis. On average, sell-side analysts forecast that RB Global, Inc. will post 1.92 EPS for the current year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were paid a dividend of $0.29 per share. This is a boost from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.37%. RB Global’s payout ratio is 69.88%.

RB Global Company Profile

(Free Report)

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.

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