RB Global, Inc. (NYSE:RBA) Holdings Trimmed by National Bank of Canada FI

National Bank of Canada FI cut its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 17.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 174,677 shares of the business services provider’s stock after selling 37,687 shares during the quarter. National Bank of Canada FI owned about 0.10% of RB Global worth $11,588,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, CRO James J. Jeter sold 11,416 shares of the firm’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 transaction of $871,269.12. Following the transaction, the executive now 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 SEC, which is available through this hyperlink. 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 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 owns 21,103 shares of the company’s stock, valued at $1,624,297.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CRO James J. Jeter sold 11,416 shares of the stock in a transaction dated Thursday, February 29th. The shares were 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 in the company, 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 valued at $1,133,055 in the last three months. Insiders own 4.10% of the company’s stock.

RB Global Stock Performance

RBA stock opened at $72.02 on Thursday. The firm has a 50 day simple moving average of $74.52 and a 200 day simple moving average of $68.47. RB Global, Inc. has a 52 week low of $51.07 and a 52 week high of $77.99. The stock has a market cap of $13.16 billion, a P/E ratio of 84.73, a P/E/G ratio of 5.43 and a beta of 0.88. 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 posted its quarterly earnings results on Friday, February 23rd. The business services provider reported $0.82 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.04 billion. During the same period in the previous year, the company posted $0.40 EPS. RB Global’s revenue was up 134.5% on a year-over-year basis. Research analysts anticipate that RB Global, Inc. will post 1.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RBA shares. Scotiabank upped their target price on RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 24th. Raymond James raised 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. Royal Bank of Canada boosted their price target on shares of RB Global from $75.00 to $93.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Finally, StockNews.com raised shares of RB Global from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus 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.