New York State Common Retirement Fund Decreases Stock Holdings in RB Global, Inc. (NYSE:RBA)

New York State Common Retirement Fund lessened its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 9.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 228,730 shares of the business services provider’s stock after selling 25,252 shares during the quarter. New York State Common Retirement Fund owned about 0.12% of RB Global worth $20,634,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in RBA. Weil Company Inc. lifted its holdings in RB Global by 1.2% in the third quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock valued at $912,000 after acquiring an additional 132 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of RB Global by 4.6% in the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider’s stock worth $279,000 after purchasing an additional 137 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of RB Global by 25.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock worth $64,000 after purchasing an additional 143 shares during the period. Blue Trust Inc. boosted its holdings in shares of RB Global by 11.9% in the third quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock worth $113,000 after buying an additional 157 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in RB Global by 136.4% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock valued at $28,000 after buying an additional 176 shares during the period. 95.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RBA has been the topic of several recent research 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 research report on Wednesday. Royal Bank of Canada raised their target price on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. CIBC reduced their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. Finally, Raymond James lifted their price objective on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.64.

RB Global Price Performance

NYSE:RBA opened at $102.61 on Friday. The business’s 50-day simple moving average is $91.94 and its two-hundred day simple moving average is $88.53. RB Global, Inc. has a 52 week low of $67.15 and a 52 week high of $106.90. The stock has a market cap of $18.95 billion, a PE ratio of 51.05, a P/E/G ratio of 4.95 and a beta of 0.96. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA) (TSE:RBA) last issued its 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). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the business posted $0.82 EPS. As a group, analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Friday, February 14th. RB Global’s dividend payout ratio (DPR) is presently 57.71%.

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.