Teachers Retirement System of The State of Kentucky Grows Position in RB Global, Inc. (NYSE:RBA)

Teachers Retirement System of The State of Kentucky lifted its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 53.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,695 shares of the business services provider's stock after purchasing an additional 20,795 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in RB Global were worth $4,805,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its position in shares of RB Global by 2.1% in the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider's stock valued at $406,087,000 after acquiring an additional 103,080 shares during the period. Geode Capital Management LLC increased its holdings in shares of RB Global by 3.0% in the third quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider's stock worth $297,400,000 after purchasing an additional 108,188 shares during the period. Janus Henderson Group PLC raised its position in shares of RB Global by 0.7% in the third quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider's stock worth $272,293,000 after buying an additional 24,101 shares in the last quarter. Cooke & Bieler LP boosted its stake in RB Global by 3.4% during the second quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider's stock valued at $252,865,000 after buying an additional 109,056 shares during the period. Finally, Fiera Capital Corp grew its position in RB Global by 5.7% during the second quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider's stock worth $239,881,000 after buying an additional 168,945 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

RB Global Trading Down 0.8 %

RBA stock traded down $0.73 on Friday, reaching $94.87. The company's stock had a trading volume of 423,320 shares, compared to its average volume of 1,000,317. The firm has a market cap of $17.49 billion, a PE ratio of 51.56, a PEG ratio of 4.61 and a beta of 0.95. The business has a fifty day simple moving average of $89.95 and a two-hundred day simple moving average of $83.45. RB Global, Inc. has a 12-month low of $60.84 and a 12-month high of $99.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Wednesday, November 27th. RB Global's dividend payout ratio is currently 63.04%.

Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the company's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the sale, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,261,134.93. This represents a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RBA. BMO Capital Markets lifted their price target on RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. CIBC lifted their target price on shares of RB Global from $102.00 to $109.00 and gave the stock an "outperformer" rating in a research report on Thursday. Royal Bank of Canada boosted their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. Robert W. Baird lifted their price objective on RB Global from $86.00 to $100.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Finally, Bank of America increased their target price on RB Global from $79.00 to $92.50 and gave the company a "neutral" rating in a report on Monday, August 26th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $100.36.

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.