Retirement Systems of Alabama Has $35.03 Million Position in RB Global, Inc. (NYSE:RBA)

Retirement Systems of Alabama boosted its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 35.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 388,260 shares of the business services provider’s stock after buying an additional 100,576 shares during the period. Retirement Systems of Alabama owned approximately 0.21% of RB Global worth $35,025,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. State Street Corp lifted its holdings in 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 buying an additional 103,080 shares during the period. Geode Capital Management LLC lifted its holdings in 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 valued at $297,400,000 after buying an additional 108,188 shares during the period. Janus Henderson Group PLC lifted its holdings in 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 valued at $272,293,000 after buying an additional 24,101 shares during the period. The Manufacturers Life Insurance Company raised its holdings in RB Global by 17.1% in the third quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock worth $196,109,000 after purchasing an additional 354,803 shares during the period. Finally, Canoe Financial LP raised its holdings in RB Global by 22.0% in the third quarter. Canoe Financial LP now owns 1,418,666 shares of the business services provider’s stock worth $113,900,000 after purchasing an additional 255,484 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RBA shares. BMO Capital Markets increased their target price 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 cut their target price on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a report on Monday. StockNews.com upgraded shares of RB Global from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Robert W. Baird increased their target price on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Royal Bank of Canada increased their target price on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $100.21.

RB Global Stock Up 0.7 %

Shares of RBA stock opened at $89.15 on Thursday. The firm has a fifty day moving average of $91.97 and a 200-day moving average of $86.97. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. RB Global, Inc. has a 12-month low of $64.04 and a 12-month high of $99.79. The company has a market capitalization of $16.47 billion, a price-to-earnings ratio of 48.45, a P/E/G ratio of 3.73 and a beta of 0.96.

RB Global Announces Dividend

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

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.