Public Employees Retirement System of Ohio Purchases Shares of 206,154 RB Global, Inc. (NYSE:RBA)

Public Employees Retirement System of Ohio acquired a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 206,154 shares of the business services provider’s stock, valued at approximately $16,604,000. Public Employees Retirement System of Ohio owned 0.11% of RB Global at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cetera Advisors LLC raised its position in RB Global by 24.5% in the first quarter. Cetera Advisors LLC now owns 7,488 shares of the business services provider’s stock worth $570,000 after acquiring an additional 1,472 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in RB Global in the 2nd quarter worth about $236,000. Wealth Enhancement Advisory Services LLC boosted its stake in RB Global by 18.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,858 shares of the business services provider’s stock worth $295,000 after buying an additional 591 shares during the last quarter. Cigna Investments Inc. New boosted its stake in RB Global by 6.6% in the 2nd quarter. Cigna Investments Inc. New now owns 3,440 shares of the business services provider’s stock worth $262,000 after buying an additional 212 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in RB Global by 11.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 9,360 shares of the business services provider’s stock worth $714,000 after buying an additional 970 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Price Performance

Shares of NYSE RBA opened at $96.18 on Wednesday. RB Global, Inc. has a twelve month low of $60.84 and a twelve month high of $99.79. 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 company has a market capitalization of $17.74 billion, a price-to-earnings ratio of 52.27, a price-to-earnings-growth ratio of 4.65 and a beta of 0.95. The business has a 50 day simple moving average of $89.05 and a 200-day simple moving average of $83.15.

RB Global Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.21%. RB Global’s dividend payout ratio is currently 63.04%.

Insider Activity at RB Global

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the completion of the transaction, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,261,134.93. The trade was a 17.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RBA shares. Robert W. Baird raised their price target on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Bank of America lifted their price objective on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. Royal Bank of Canada lifted their price objective on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, BMO Capital Markets lifted their price objective on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.36.

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.