RB Global, Inc. (NYSE:RBA) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd lowered its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 678,124 shares of the business services provider’s stock after selling 7,484 shares during the period. Ninety One UK Ltd owned about 0.37% of RB Global worth $45,601,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in RBA. HighTower Advisors LLC lifted its position in RB Global by 6.4% in the first quarter. HighTower Advisors LLC now owns 21,697 shares of the business services provider’s stock valued at $1,275,000 after purchasing an additional 1,306 shares during the period. Citigroup Inc. lifted its position in shares of RB Global by 26.0% during the 1st quarter. Citigroup Inc. now owns 34,995 shares of the business services provider’s stock valued at $2,069,000 after acquiring an additional 7,218 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of RB Global by 11.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 19,188 shares of the business services provider’s stock valued at $1,131,000 after acquiring an additional 1,914 shares during the period. Great West Life Assurance Co. Can lifted its position in shares of RB Global by 1.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 100,957 shares of the business services provider’s stock valued at $6,322,000 after acquiring an additional 1,548 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of RB Global by 14.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 284,874 shares of the business services provider’s stock valued at $16,816,000 after acquiring an additional 37,047 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insiders Place Their Bets

In other RB Global news, insider Darren Jeffrey Watt sold 2,300 shares of RB Global stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $76.97, for a total value of $177,031.00. Following the completion of the sale, the insider now directly owns 21,103 shares of the company’s stock, valued at approximately $1,624,297.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CRO James J. Jeter sold 11,416 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $76.32, for a total transaction of $871,269.12. Following the completion of the sale, the executive now directly owns 30,915 shares of the company’s stock, valued at approximately $2,359,432.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Darren Jeffrey Watt sold 2,300 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $76.97, for a total transaction of $177,031.00. Following the sale, the insider now directly owns 21,103 shares of the company’s stock, valued at $1,624,297.91. The disclosure for this sale can be found here. In the last three months, insiders sold 14,816 shares of company stock valued at $1,133,055. Company insiders own 4.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RBA. Scotiabank lifted their price target on shares of RB Global from $76.00 to $88.00 and gave the company a “sector outperform” rating in a research report on Monday, February 26th. Royal Bank of Canada raised their price objective on shares of RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. StockNews.com raised shares of RB Global from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Raymond James raised their price objective on shares of RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $82.80.

RB Global Trading Down 1.0 %

Shares of RBA opened at $72.49 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.35 and a quick ratio of 1.23. The firm has a 50 day simple moving average of $74.02 and a 200-day simple moving average of $67.74. RB Global, Inc. has a 1-year low of $51.07 and a 1-year high of $77.99. The stock has a market cap of $13.25 billion, a price-to-earnings ratio of 85.28, a price-to-earnings-growth ratio of 5.56 and a beta of 0.87.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Friday, February 23rd. The business services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.68 by $0.14. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. RB Global had a net margin of 5.61% and a return on equity of 4.19%. RB Global’s revenue for the quarter was up 134.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 EPS. Equities analysts forecast that RB Global, Inc. will post 1.88 EPS for the current fiscal year.

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.