RB Global, Inc. $RBA Position Lifted by Tectonic Advisors LLC

Tectonic Advisors LLC raised its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 10.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,826 shares of the business services provider’s stock after acquiring an additional 6,091 shares during the quarter. Tectonic Advisors LLC’s holdings in RB Global were worth $5,439,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Addison Advisors LLC acquired a new position in shares of RB Global during the 2nd quarter worth $26,000. J.Safra Asset Management Corp purchased a new position in shares of RB Global in the 2nd quarter valued at about $32,000. Integrated Wealth Concepts LLC acquired a new stake in shares of RB Global in the second quarter valued at about $35,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of RB Global in the first quarter valued at about $43,000. Finally, Axiom Investment Management LLC acquired a new stake in shares of RB Global in the first quarter valued at about $76,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RB Global

In other RB Global news, Director Deborah Stein acquired 500 shares of the company’s stock in a transaction dated Wednesday, September 9th. The stock was acquired at an average cost of $80.91 per share, with a total value of $40,455.00. Following the purchase, the director directly owned 2,325 shares in the company, valued at approximately $188,115.75. This trade represents a 27.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Chloe Harford acquired 1,200 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were bought at an average price of $83.74 per share, with a total value of $100,488.00. Following the completion of the transaction, the director directly owned 1,200 shares in the company, valued at approximately $100,488. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays lowered their target price on shares of RB Global from $121.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $152.00 target price on shares of RB Global in a report on Wednesday, September 23rd. Weiss Ratings downgraded shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 18th. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, Raymond James Financial upgraded RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target on the stock in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.29.

RB Global Price Performance

Shares of RB Global stock traded down $0.21 on Friday, hitting $84.18. The company’s stock had a trading volume of 1,600,196 shares, compared to its average volume of 2,093,198. The company has a market capitalization of $15.26 billion, a P/E ratio of 36.13, a price-to-earnings-growth ratio of 1.44 and a beta of 0.53. RB Global, Inc. has a 52-week low of $78.05 and a 52-week high of $119.33. The firm has a fifty day moving average price of $83.75 and a 200-day moving average price of $98.18. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.04. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. On average, equities research analysts expect that RB Global, Inc. will post 4.06 earnings per share for the current fiscal year.

About RB Global

RB Global, Inc is a global marketplace and provider of asset management and disposition services for commercial and industrial equipment, vehicles and other durable assets. The company connects buyers and sellers through live and online auctions, negotiated sales and digital marketplaces, serving industries such as construction, transportation, agriculture, energy, government and automotive.

Its portfolio includes Ritchie Bros., a major auction and marketplace brand for heavy equipment; IAA, which specializes in salvage and repairable vehicle auctions; and Mascus, an online marketplace for used equipment.