State of Alaska Department of Revenue Boosts Stock Position in RB Global, Inc. (NYSE:RBA)

State of Alaska Department of Revenue raised its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,420 shares of the business services provider’s stock after purchasing an additional 1,450 shares during the quarter. State of Alaska Department of Revenue’s holdings in RB Global were worth $1,724,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RBA. Intech Investment Management LLC purchased a new position in RB Global in the 1st quarter valued at $613,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of RB Global by 25.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider’s stock valued at $27,927,000 after acquiring an additional 74,809 shares in the last quarter. Arlington Partners LLC increased its stake in shares of RB Global by 22.3% during the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock worth $3,958,000 after acquiring an additional 8,961 shares during the period. MJP Associates Inc. ADV raised its holdings in RB Global by 10.7% during the second quarter. MJP Associates Inc. ADV now owns 4,159 shares of the business services provider’s stock worth $318,000 after purchasing an additional 401 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in RB Global by 1,177.0% in the first quarter. Cetera Investment Advisers now owns 43,572 shares of the business services provider’s stock valued at $3,319,000 after purchasing an additional 40,160 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Raymond James boosted their target price on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Robert W. Baird increased their price objective on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. BMO Capital Markets started coverage on shares of RB Global in a research report on Thursday, September 5th. They set an “outperform” rating and a $105.00 target price on the stock. Bank of America increased their price target on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. Finally, Royal Bank of Canada boosted their price objective on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.19.

Insiders Place Their Bets

In other news, CRO James J. Jeter sold 2,920 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total value of $230,563.20. Following the completion of the transaction, the executive now owns 23,267 shares of the company’s stock, valued at $1,837,162.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the transaction, the insider now directly owns 19,271 shares in the company, valued at $1,595,638.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO James J. Jeter sold 2,920 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the sale, the executive now directly owns 23,267 shares in the company, valued at $1,837,162.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,601 shares of company stock valued at $3,720,043 in the last ninety days. Insiders own 4.32% of the company’s stock.

RB Global Trading Up 0.4 %

Shares of RB Global stock opened at $85.10 on Friday. The business has a 50 day moving average price of $83.41 and a 200 day moving average price of $79.14. The company has a market capitalization of $15.69 billion, a P/E ratio of 47.81, a P/E/G ratio of 5.52 and a beta of 0.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20. RB Global, Inc. has a 1 year low of $58.85 and a 1 year high of $87.45.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.06. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The business’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 earnings per share. Sell-side analysts anticipate that RB Global, Inc. will post 1.92 EPS for the current fiscal year.

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.