Retirement Systems of Alabama increased its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 35.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 388,260 shares of the business services provider's stock after buying an additional 100,576 shares during the quarter. Retirement Systems of Alabama owned 0.21% of RB Global worth $35,025,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in RBA. Weil Company Inc. boosted its holdings in RB Global by 1.2% during the third quarter. Weil Company Inc. now owns 11,330 shares of the business services provider's stock valued at $912,000 after purchasing an additional 132 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in 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 valued at $64,000 after buying an additional 143 shares in the last quarter. Blue Trust Inc. grew its position in RB Global by 11.9% in the third quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider's stock valued at $113,000 after acquiring an additional 157 shares during the period. Versant Capital Management Inc grew its position in RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock valued at $28,000 after acquiring an additional 176 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in RB Global by 2.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,049 shares of the business services provider's stock worth $816,000 after acquiring an additional 225 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.
RB Global Price Performance
Shares of RB Global stock traded up $1.17 during midday trading on Friday, reaching $92.76. The company had a trading volume of 747,861 shares, compared to its average volume of 952,394. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $91.74 and a 200 day simple moving average of $87.09. RB Global, Inc. has a 1-year low of $65.79 and a 1-year high of $99.79. The company has a market capitalization of $17.14 billion, a price-to-earnings ratio of 50.41, a price-to-earnings-growth ratio of 3.82 and a beta of 0.96.
RB Global Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.25%. RB Global's payout ratio is currently 63.04%.
Analyst Ratings Changes
Several equities research analysts have recently commented on RBA shares. StockNews.com upgraded shares of RB Global from a "hold" rating to a "buy" rating in a research note on Monday, January 27th. Robert W. Baird boosted their price target on shares of RB Global from $86.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. BMO Capital Markets raised their price objective on shares of RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. CIBC reduced their target price on RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a report on Monday, February 3rd. Finally, Royal Bank of Canada raised their price target on RB Global from $99.00 to $107.00 and gave the company an "outperform" rating in a report on Monday, November 11th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.21.
Read Our Latest Research Report on RBA
About RB Global
(
Free Report)
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.
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