RB Global, Inc. $RBA Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 14.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,377 shares of the business services provider’s stock after selling 12,214 shares during the period. Texas Permanent School Fund Corp’s holdings in RB Global were worth $7,792,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new position in RB Global during the first quarter worth about $28,000. Rise Advisors LLC acquired a new stake in shares of RB Global in the first quarter valued at approximately $38,000. State of Wyoming purchased a new position in shares of RB Global during the 2nd quarter worth approximately $46,000. Whipplewood Advisors LLC raised its position in shares of RB Global by 42.9% during the 2nd quarter. Whipplewood Advisors LLC now owns 456 shares of the business services provider’s stock worth $48,000 after purchasing an additional 137 shares during the last quarter. Finally, SouthState Corp lifted its stake in RB Global by 75.6% in the 2nd quarter. SouthState Corp now owns 453 shares of the business services provider’s stock valued at $48,000 after buying an additional 195 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RBA. National Bankshares cut their price target on RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a report on Thursday, October 9th. Bank of America lowered their price target on shares of RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a report on Friday, November 7th. National Bank Financial upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective on the stock in a report on Monday, November 24th. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Royal Bank Of Canada boosted their target price on RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, RB Global has an average rating of “Moderate Buy” and a consensus target price of $122.88.

Insider Transactions at RB Global

In other news, Director Deborah Stein acquired 1,000 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were bought at an average price of $101.26 per share, for a total transaction of $101,260.00. Following the completion of the purchase, the director directly owned 1,000 shares of the company’s stock, valued at approximately $101,260. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.28% of the stock is owned by company insiders.

RB Global Trading Down 1.2%

NYSE:RBA opened at $102.73 on Tuesday. The business’s 50-day moving average is $100.32 and its two-hundred day moving average is $106.81. The firm has a market capitalization of $19.09 billion, a PE ratio of 49.15, a price-to-earnings-growth ratio of 2.27 and a beta of 0.56. RB Global, Inc. has a 12 month low of $86.68 and a 12 month high of $119.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.15.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.10. RB Global had a return on equity of 9.66% and a net margin of 9.65%.The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. The company’s revenue was up 12.0% compared to the same quarter last year. Research analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 26th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, November 26th. RB Global’s dividend payout ratio is currently 59.33%.

About RB Global

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.