OLD National Bancorp IN Decreases Holdings in RB Global, Inc. (NYSE:RBA)

OLD National Bancorp IN cut its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 16.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,109 shares of the business services provider’s stock after selling 1,013 shares during the quarter. OLD National Bancorp IN’s holdings in RB Global were worth $342,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC bought a new stake in shares of RB Global during the third quarter valued at about $26,000. Headlands Technologies LLC purchased a new stake in RB Global in the third quarter worth approximately $26,000. Oakworth Capital Inc. boosted its stake 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 in the last quarter. WASHINGTON TRUST Co purchased a new stake in RB Global in the third quarter worth approximately $56,000. Finally, Oliver Lagore Vanvalin Investment Group lifted its position 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 last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insiders Place Their Bets

In other RB Global news, CRO James J. Jeter sold 11,416 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $76.32, for a total value of $871,269.12. Following the transaction, the executive now directly owns 30,915 shares of the company’s stock, valued at $2,359,432.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Darren Jeffrey Watt sold 1,100 shares of RB Global stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total value of $84,755.00. Following the completion of the transaction, the insider now owns 21,103 shares in the company, valued at approximately $1,625,986.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO James J. Jeter sold 11,416 shares of RB Global stock in a transaction that occurred 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. Over the last three months, insiders have sold 14,816 shares of company stock valued at $1,133,055. Insiders own 4.32% of the company’s stock.

RB Global Trading Up 0.2 %

Shares of NYSE:RBA opened at $73.37 on Thursday. The stock has a market capitalization of $13.41 billion, a price-to-earnings ratio of 86.32, a PEG ratio of 5.51 and a beta of 0.87. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.23 and a current ratio of 1.35. The stock’s 50-day simple moving average is $74.33 and its two-hundred day simple moving average is $68.01. 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 announced its earnings results 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 for the quarter, compared to analysts’ expectations 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 for the quarter was up 134.5% on a year-over-year basis. During the same period last year, the firm posted $0.40 earnings per share. Analysts expect that RB Global, Inc. will post 1.9 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. StockNews.com upgraded RB Global from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Raymond James increased their target price on RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. Scotiabank increased their target price on RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada increased their target price on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.00.

RB Global 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.