North Dakota State Investment Board Makes New $672,000 Investment in RB Global, Inc. $RBA

North Dakota State Investment Board purchased a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the fourth quarter, HoldingsChannel reports. The firm purchased 6,537 shares of the business services provider’s stock, valued at approximately $672,000.

A number of other institutional investors have also recently bought and sold shares of RBA. Kensico Capital Management Corp increased its position in RB Global by 152.0% during the third quarter. Kensico Capital Management Corp now owns 1,044,000 shares of the business services provider’s stock worth $113,128,000 after buying an additional 629,700 shares during the last quarter. Bank of America Corp DE increased its position in RB Global by 58.7% during the third quarter. Bank of America Corp DE now owns 1,533,783 shares of the business services provider’s stock worth $166,201,000 after buying an additional 567,431 shares during the last quarter. Holocene Advisors LP acquired a new position in RB Global during the third quarter worth approximately $53,111,000. Invesco Ltd. increased its position in RB Global by 17.7% during the third quarter. Invesco Ltd. now owns 2,863,540 shares of the business services provider’s stock worth $310,293,000 after buying an additional 430,729 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of RB Global by 135.2% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 624,563 shares of the business services provider’s stock worth $67,634,000 after acquiring an additional 359,049 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

RBA has been the subject of a number of research analyst reports. Royal Bank Of Canada boosted their price objective on RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. BMO Capital Markets restated an “outperform” rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Stephens restated an “equal weight” rating and set a $96.00 price objective on shares of RB Global in a report on Tuesday, May 5th. Finally, Weiss Ratings upgraded RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and an average price target of $126.43.

RB Global Stock Down 1.8%

NYSE RBA opened at $102.68 on Friday. The business has a fifty day moving average price of $101.24 and a two-hundred day moving average price of $103.64. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. RB Global, Inc. has a fifty-two week low of $93.58 and a fifty-two week high of $119.58. The stock has a market capitalization of $19.09 billion, a PE ratio of 47.76, a PEG ratio of 1.67 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.04. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company earned $0.89 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Equities analysts expect that RB Global, Inc. will post 4.09 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.24 annualized dividend and a yield of 1.2%. RB Global’s dividend payout ratio is presently 57.67%.

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.