National Bank of Canada FI Has $11.59 Million Position in RB Global, Inc. (NYSE:RBA)

National Bank of Canada FI lessened its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 17.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 174,677 shares of the business services provider’s stock after selling 37,687 shares during the period. National Bank of Canada FI’s holdings in RB Global were worth $11,588,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RBA. Headlands Technologies LLC acquired a new stake in shares of RB Global during the 3rd quarter worth approximately $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of RB Global during the 3rd quarter valued at $26,000. Oakworth Capital Inc. grew its holdings in shares of RB Global by 53.3% during the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock worth $31,000 after purchasing an additional 162 shares during the last quarter. GAMMA Investing LLC acquired a new position in RB Global in the 4th quarter valued at approximately $54,000. Finally, Oliver Lagore Vanvalin Investment Group increased its holdings in RB Global by 63.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 1,448 shares of the business services provider’s stock valued at $97,000 after purchasing an additional 562 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on RBA. Raymond James upped their price target on RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Scotiabank increased their price objective on shares of RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 24th. StockNews.com upgraded shares of RB Global from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Finally, Royal Bank of Canada increased their price target on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

RB Global Trading Up 0.2 %

RBA opened at $72.02 on Thursday. The company has a fifty day moving average price of $74.52 and a two-hundred day moving average price of $68.47. RB Global, Inc. has a 1-year low of $51.07 and a 1-year high of $77.99. The company has a market cap of $13.16 billion, a P/E ratio of 84.73, a price-to-earnings-growth ratio of 5.43 and a beta of 0.88. The company has a current ratio of 1.35, a quick ratio of 1.23 and a debt-to-equity ratio of 0.61.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.04 billion. RB Global had a return on equity of 4.19% and a net margin of 5.61%. The firm’s revenue for the quarter was up 134.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. Analysts predict that RB Global, Inc. will post 1.9 EPS for the current fiscal year.

Insider Transactions at RB Global

In other RB Global 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 owns 30,915 shares in the company, valued at approximately $2,359,432.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other RB Global news, CRO James J. Jeter sold 11,416 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was 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 is accessible through the SEC website. Also, 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 transaction, the insider now directly owns 21,103 shares in the company, valued at approximately $1,624,297.91. The disclosure for this sale can be found here. Insiders have sold 14,816 shares of company stock valued at $1,133,055 over the last ninety days. 4.10% of the stock is owned by company insiders.

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.