Russell Investments Group Ltd. Sells 5,789 Shares of RB Global, Inc. (NYSE:RBA)

Russell Investments Group Ltd. cut its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,663 shares of the business services provider’s stock after selling 5,789 shares during the period. Russell Investments Group Ltd.’s holdings in RB Global were worth $5,073,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in RBA. Headlands Technologies LLC bought a new stake in RB Global during the third quarter worth approximately $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in RB Global during the 3rd quarter valued at $26,000. Oakworth Capital Inc. lifted its position in RB Global by 53.3% in the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock worth $31,000 after buying an additional 162 shares during the last quarter. GAMMA Investing LLC purchased a new position in RB Global during the fourth quarter worth $54,000. Finally, Oliver Lagore Vanvalin Investment Group increased its position in RB Global by 63.4% during 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 acquiring an additional 562 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RBA shares. StockNews.com upgraded shares of RB Global from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Raymond James upped their target price on 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 raised their price target on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. Finally, Scotiabank upped their price objective on RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.00.

RB Global Stock Up 1.3 %

Shares of NYSE:RBA opened at $72.95 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.35 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $74.46 and its 200 day moving average is $68.50. The stock has a market cap of $13.33 billion, a P/E ratio of 85.82, a price-to-earnings-growth ratio of 5.43 and a beta of 0.88. RB Global, Inc. has a 52-week low of $51.07 and a 52-week high of $77.99.

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 (EPS) 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 business’s revenue was up 134.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 EPS. Sell-side analysts predict that RB Global, Inc. will post 1.9 EPS for the current year.

Insiders Place Their Bets

In other news, CRO James J. Jeter sold 11,416 shares of the company’s stock in a transaction that occurred 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 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 available through the SEC website. In related news, insider Darren Jeffrey Watt sold 1,100 shares of RB Global stock in a transaction that occurred 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 in the company, valued at approximately $1,625,986.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 11,416 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $76.32, for a total value of $871,269.12. Following the completion of the transaction, the executive now owns 30,915 shares of the company’s stock, valued at approximately $2,359,432.80. The disclosure for this sale can be found here. Insiders have sold a total of 14,816 shares of company stock worth $1,133,055 in the last three months. Corporate insiders own 4.10% of the company’s stock.

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.