Alaska Permanent Fund Corp Raises Holdings in RB Global, Inc. (NYSE:RBA)

Alaska Permanent Fund Corp lifted its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 87.4% during the 1st quarter, HoldingsChannel reports. The firm owned 67,797 shares of the business services provider’s stock after acquiring an additional 31,610 shares during the quarter. Alaska Permanent Fund Corp’s holdings in RB Global were worth $5,164,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC bought a new stake in RB Global in the 3rd quarter worth approximately $26,000. Oakworth Capital Inc. grew its holdings in shares of RB Global by 53.3% in the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 162 shares in the last quarter. GAMMA Investing LLC bought a new stake in RB Global in the fourth quarter worth $54,000. Brown Brothers Harriman & Co. purchased a new stake in RB Global during the fourth quarter valued at $72,000. Finally, Mather Group LLC. purchased a new position in shares of RB Global in the 1st quarter worth $104,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at RB Global

In other news, CRO James J. Jeter sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $75.43, for a total transaction of $1,056,020.00. Following the transaction, the executive now directly owns 28,267 shares of the company’s stock, valued at $2,132,179.81. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Baron Concors sold 13,230 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $75.05, for a total value of $992,911.50. Following the completion of the sale, the insider now directly owns 15,487 shares of the company’s stock, valued at $1,162,299.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 14,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $75.43, for a total transaction of $1,056,020.00. Following the transaction, the executive now owns 28,267 shares in the company, valued at $2,132,179.81. The disclosure for this sale can be found here. Insiders sold a total of 43,867 shares of company stock valued at $3,370,272 in the last three months. Company insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. CIBC started coverage on shares of RB Global in a research report on Tuesday. They set a “sector outperform” rating and a $95.00 target price on the stock. Raymond James upped their price objective on RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Bank of America lifted their target price on RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Scotiabank increased their price target on RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada lifted their price objective on shares of RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, RB Global currently has an average rating of “Moderate Buy” and an average target price of $84.14.

RB Global Trading Down 2.4 %

Shares of NYSE RBA opened at $78.14 on Friday. RB Global, Inc. has a fifty-two week low of $55.09 and a fifty-two week high of $81.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.17 and a current ratio of 1.29. The company has a market cap of $14.29 billion, a price-to-earnings ratio of 47.07, a PEG ratio of 5.47 and a beta of 0.88. The business’s 50 day moving average price is $74.75 and its 200-day moving average price is $71.15.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, May 9th. The business services provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.15. RB Global had a return on equity of 6.87% and a net margin of 8.08%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. On average, sell-side analysts expect that RB Global, Inc. will post 2.04 earnings per share for the current year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, May 29th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $1.08 dividend on an annualized basis and a yield of 1.38%. RB Global’s payout ratio is 65.06%.

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.