RB Global, Inc. (NYSE:RBA) Stock Position Lowered by Ninety One UK Ltd

Ninety One UK Ltd lessened its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.1% in the 4th quarter, Holdings Channel reports. The fund owned 678,124 shares of the business services provider’s stock after selling 7,484 shares during the period. Ninety One UK Ltd’s holdings in RB Global were worth $45,601,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in RB Global by 144.9% in the 3rd quarter. Vanguard Group Inc. now owns 22,647,288 shares of the business services provider’s stock valued at $1,415,456,000 after buying an additional 13,400,942 shares during the period. BlackRock Inc. increased its stake in RB Global by 286.9% in the 2nd quarter. BlackRock Inc. now owns 6,479,856 shares of the business services provider’s stock valued at $388,791,000 after buying an additional 4,804,923 shares during the period. Luxor Capital Group LP increased its stake in RB Global by 95.9% in the 4th quarter. Luxor Capital Group LP now owns 4,209,222 shares of the business services provider’s stock valued at $243,419,000 after buying an additional 2,060,511 shares during the period. State Street Corp increased its stake in RB Global by 179.6% in the 2nd quarter. State Street Corp now owns 2,537,213 shares of the business services provider’s stock valued at $152,233,000 after buying an additional 1,629,684 shares during the period. Finally, Norges Bank acquired a new position in RB Global in the 4th quarter valued at approximately $79,586,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

NYSE RBA opened at $72.49 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.23 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $74.02 and a 200 day simple moving average of $67.74. The company has a market cap of $13.25 billion, a P/E ratio of 85.28, a P/E/G ratio of 5.56 and a beta of 0.87. RB Global, Inc. has a 1 year low of $51.07 and a 1 year high of $77.99.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Friday, February 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.14. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.04 billion. RB Global had a net margin of 5.61% and a return on equity of 4.19%. RB Global’s quarterly revenue was up 134.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS. On average, sell-side analysts predict that RB Global, Inc. will post 1.88 EPS for the current year.

Insider Buying and Selling at RB Global

In other RB Global news, insider Darren Jeffrey Watt sold 1,100 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total value of $84,755.00. Following the completion of the sale, the insider now directly owns 21,103 shares of the company’s stock, valued at approximately $1,625,986.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other RB Global news, CRO James J. Jeter sold 11,416 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $76.32, for a total value 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 legal filing with the SEC, which is available through the SEC website. Also, insider Darren Jeffrey Watt sold 1,100 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the sale, the insider now directly owns 21,103 shares of the company’s stock, valued at $1,625,986.15. The disclosure for this sale can be found here. Insiders sold a total of 14,816 shares of company stock valued at $1,133,055 in the last ninety days. Company insiders own 4.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RBA. Raymond James upped their price objective on shares of RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Royal Bank of Canada increased their price target 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 upgraded shares of RB Global from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Scotiabank increased their price target on shares of RB Global from $76.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 26th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.80.

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.