Alaska Permanent Fund Corp Acquires 4,028 Shares of RB Global, Inc. (NYSE:RBA)

Alaska Permanent Fund Corp lifted its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 12.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,187 shares of the business services provider’s stock after acquiring an additional 4,028 shares during the quarter. Alaska Permanent Fund Corp’s holdings in RB Global were worth $2,421,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RBA. Yousif Capital Management LLC raised its holdings in RB Global by 41.7% in the 4th quarter. Yousif Capital Management LLC now owns 4,943 shares of the business services provider’s stock valued at $331,000 after acquiring an additional 1,455 shares in the last quarter. Cumberland Partners Ltd acquired a new position in shares of RB Global during the 4th quarter worth $370,000. GAMMA Investing LLC acquired a new position in shares of RB Global during the 4th quarter worth $54,000. Signaturefd LLC raised its holdings in shares of RB Global by 11.0% during the 4th quarter. Signaturefd LLC now owns 1,917 shares of the business services provider’s stock worth $128,000 after buying an additional 190 shares in the last quarter. Finally, Cooke & Bieler LP raised its holdings in shares of RB Global by 3.6% during the 4th quarter. Cooke & Bieler LP now owns 3,627,957 shares of the business services provider’s stock worth $242,674,000 after buying an additional 124,815 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RBA shares. Royal Bank of Canada boosted their price target on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Scotiabank upped their target price on RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a report on Wednesday. StockNews.com upgraded RB Global from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Raymond James upped their price target on RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.00.

RB Global Stock Performance

NYSE RBA traded down $0.06 on Thursday, hitting $73.31. 36,928 shares of the stock traded hands, compared to its average volume of 802,427. The business’s fifty day moving average is $74.33 and its two-hundred day moving average is $68.01. RB Global, Inc. has a 12 month low of $51.07 and a 12 month high of $77.99. The firm has a market capitalization of $13.40 billion, a price-to-earnings ratio of 86.32, a PEG ratio of 5.51 and a beta of 0.87. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.23 and a current ratio of 1.35.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Friday, February 23rd. The business services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. RB Global had a return on equity of 4.19% and a net margin of 5.61%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 134.5% on a year-over-year basis. As a group, equities analysts anticipate that RB Global, Inc. will post 1.9 EPS for the current fiscal year.

Insider Activity at RB Global

In other RB Global news, CRO James J. Jeter sold 11,416 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $76.32, for a total transaction of $871,269.12. Following the sale, the executive now owns 30,915 shares in the company, valued at $2,359,432.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other RB Global news, CRO James J. Jeter sold 11,416 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $76.32, for a total transaction of $871,269.12. Following the completion of the transaction, the executive now owns 30,915 shares of the company’s stock, valued at approximately $2,359,432.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Darren Jeffrey Watt sold 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total value of $84,755.00. Following the transaction, the insider now directly owns 21,103 shares of the company’s stock, valued at approximately $1,625,986.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,816 shares of company stock valued at $1,133,055. Company 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.