New York State Common Retirement Fund Has $27.94 Million Position in RB Global, Inc. (NYSE:RBA)

New York State Common Retirement Fund lowered its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 17.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 417,747 shares of the business services provider’s stock after selling 89,633 shares during the period. New York State Common Retirement Fund owned 0.23% of RB Global worth $27,943,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in RB Global by 144.9% during the 3rd quarter. Vanguard Group Inc. now owns 22,647,288 shares of the business services provider’s stock worth $1,415,456,000 after acquiring an additional 13,400,942 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of RB Global by 10.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,320,114 shares of the business services provider’s stock valued at $645,007,000 after buying an additional 977,171 shares during the period. Cooke & Bieler LP grew its holdings in shares of RB Global by 3.6% in the 4th quarter. Cooke & Bieler LP now owns 3,627,957 shares of the business services provider’s stock valued at $242,674,000 after buying an additional 124,815 shares during the period. Fiera Capital Corp lifted its position in RB Global by 4.5% in the 3rd quarter. Fiera Capital Corp now owns 2,614,152 shares of the business services provider’s stock valued at $164,125,000 after acquiring an additional 113,514 shares in the last quarter. Finally, Cidel Asset Management Inc. lifted its position in RB Global by 50.4% in the 3rd quarter. Cidel Asset Management Inc. now owns 1,375,673 shares of the business services provider’s stock valued at $86,528,000 after acquiring an additional 460,858 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Activity at RB Global

In related news, insider Darren Jeffrey Watt sold 1,100 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total value of $84,755.00. Following 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 can be accessed through this link. In other RB Global news, CRO James J. Jeter sold 11,416 shares of the stock in a transaction that occurred 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 transaction, 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 SEC, which is accessible through the SEC website. Also, insider Darren Jeffrey Watt sold 1,100 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total transaction of $84,755.00. Following the transaction, the insider now owns 21,103 shares in the company, valued at approximately $1,625,986.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,816 shares of company stock worth $1,133,055. Insiders own 4.32% of the company’s stock.

RB Global Stock Down 0.2 %

Shares of RBA opened at $73.16 on Friday. RB Global, Inc. has a 52 week low of $51.07 and a 52 week high of $77.99. The firm has a market cap of $13.37 billion, a P/E ratio of 86.07, a price-to-earnings-growth ratio of 5.51 and a beta of 0.87. The firm’s 50-day simple moving average is $74.51 and its 200 day simple moving average is $68.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.23 and a current ratio of 1.35.

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

Analyst Ratings Changes

RBA has been the topic of several research reports. Royal Bank of Canada boosted their price objective on shares of RB Global from $75.00 to $93.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Raymond James boosted their price objective on shares of RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. StockNews.com raised shares of RB Global from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Scotiabank boosted their price objective on shares of RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.00.

About RB Global

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.