Retirement Systems of Alabama Acquires 100,576 Shares of RB Global, Inc. (NYSE:RBA)

Retirement Systems of Alabama boosted its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 35.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 388,260 shares of the business services provider’s stock after purchasing an additional 100,576 shares during the period. Retirement Systems of Alabama’s holdings in RB Global were worth $35,025,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Squarepoint Ops LLC bought a new position in shares of RB Global in the 2nd quarter valued at about $402,000. Creative Planning grew its position in shares of RB Global by 35.7% in the 2nd quarter. Creative Planning now owns 15,526 shares of the business services provider’s stock valued at $1,186,000 after acquiring an additional 4,081 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of RB Global by 30.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,020 shares of the business services provider’s stock valued at $78,000 after acquiring an additional 241 shares during the period. Sanctuary Advisors LLC bought a new position in shares of RB Global in the 2nd quarter valued at about $544,000. Finally, GAMMA Investing LLC grew its position in shares of RB Global by 29.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,179 shares of the business services provider’s stock valued at $95,000 after acquiring an additional 267 shares during the period. Institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

Shares of RB Global stock opened at $89.15 on Thursday. RB Global, Inc. has a twelve month low of $64.04 and a twelve month high of $99.79. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. The company has a 50-day simple moving average of $91.97 and a two-hundred day simple moving average of $86.97. The stock has a market capitalization of $16.47 billion, a price-to-earnings ratio of 48.45, a price-to-earnings-growth ratio of 3.73 and a beta of 0.96.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.30%. The ex-dividend date is Friday, February 14th. RB Global’s dividend payout ratio (DPR) is 63.04%.

Analysts Set New Price Targets

A number of research analysts have recently commented on RBA shares. BMO Capital Markets lifted their price objective on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Royal Bank of Canada lifted their price objective on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Robert W. Baird raised their target price on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. StockNews.com upgraded shares of RB Global from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. Finally, CIBC cut their target price on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.21.

RB Global 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.