Cerity Partners LLC Purchases Shares of 3,000 RB Global, Inc. (NYSE:RBA)

Cerity Partners LLC acquired a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,000 shares of the business services provider’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mariner LLC boosted its holdings in RB Global by 3.6% in the third quarter. Mariner LLC now owns 27,567 shares of the business services provider’s stock worth $1,723,000 after acquiring an additional 946 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in 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 purchasing an additional 977,171 shares during the period. FMR LLC increased its stake in RB Global by 49.2% during the 3rd quarter. FMR LLC now owns 42,443 shares of the business services provider’s stock valued at $2,656,000 after purchasing an additional 13,987 shares in the last quarter. Pathstone Family Office LLC acquired a new position in RB Global during the third quarter worth $226,000. Finally, Legal & General Group Plc bought a new position in shares of RB Global in the third quarter valued at $49,791,000. Institutional investors own 95.37% of the company’s stock.

RB Global Stock Performance

Shares of RBA opened at $73.69 on Tuesday. The stock has a 50 day moving average of $74.69 and a 200 day moving average of $68.19. The company has a market capitalization of $13.47 billion, a price-to-earnings ratio of 86.69, a PEG ratio of 5.50 and a beta of 0.87. RB Global, Inc. has a 12 month low of $51.07 and a 12 month high of $77.99. 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 announced its quarterly earnings data on Friday, February 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14. The firm had revenue of $1.04 billion during 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 for the quarter was up 134.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. As a group, sell-side analysts forecast that RB Global, Inc. will post 1.9 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Activity at RB Global

In other RB Global news, insider Darren Jeffrey Watt sold 2,300 shares of the business’s stock in a transaction dated 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 $1,624,297.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CRO James J. Jeter sold 11,416 shares of the stock in a transaction 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 transaction, the executive now owns 30,915 shares in the company, valued at approximately $2,359,432.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Darren Jeffrey Watt sold 2,300 shares of RB Global stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $76.97, for a total value of $177,031.00. Following the completion of the sale, the insider now directly owns 21,103 shares of the company’s stock, valued at approximately $1,624,297.91. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,816 shares of company stock worth $1,133,055. 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.