Maryland State Retirement & Pension System Sells 697 Shares of RB Global, Inc. (NYSE:RBA)

Maryland State Retirement & Pension System lowered its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 6.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,775 shares of the business services provider’s stock after selling 697 shares during the quarter. Maryland State Retirement & Pension System’s holdings in RB Global were worth $882,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Central Pacific Bank Trust Division bought a new position in RB Global in the 4th quarter worth about $27,000. Versant Capital Management Inc grew its holdings in shares of RB Global by 136.4% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after purchasing an additional 176 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after purchasing an additional 129 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in RB Global in the fourth quarter valued at approximately $37,000. Finally, Geneos Wealth Management Inc. bought a new stake in RB Global during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Stock Up 0.3 %

Shares of NYSE:RBA opened at $99.14 on Monday. The stock has a market capitalization of $18.32 billion, a P/E ratio of 49.33, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94. The stock’s 50-day moving average price is $95.35 and its 200-day moving average price is $90.91. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a 12-month low of $69.83 and a 12-month high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.23). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same quarter in the previous year, the business earned $0.82 earnings per share. On average, equities analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Friday, February 14th. RB Global’s payout ratio is 57.71%.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 15,700 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the sale, the chief executive officer now directly owns 107,569 shares of the company’s stock, valued at $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO James J. Jeter sold 7,597 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.85, for a total value of $743,366.45. Following the transaction, the executive now directly owns 20,267 shares of the company’s stock, valued at $1,983,125.95. The trade was a 27.26 % decrease in their position. The disclosure for this sale can be found here. 4.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RBA has been the topic of a number of research analyst reports. BMO Capital Markets increased their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Raymond James increased their target price on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. CIBC lowered their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. Robert W. Baird upped their price objective on RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada raised their price objective on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.64.

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.