Strs Ohio Raises Stock Position in RB Global, Inc. (NYSE:RBA)

Strs Ohio grew its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 150.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,844 shares of the business services provider’s stock after buying an additional 27,557 shares during the period. Strs Ohio’s holdings in RB Global were worth $3,073,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vontobel Holding Ltd. grew its stake in shares of RB Global by 487.6% in the 4th quarter. Vontobel Holding Ltd. now owns 158,329 shares of the business services provider’s stock worth $10,591,000 after buying an additional 131,383 shares in the last quarter. Triasima Portfolio Management inc. grew its stake in shares of RB Global by 1,152.4% in the 4th quarter. Triasima Portfolio Management inc. now owns 193,118 shares of the business services provider’s stock worth $12,947,000 after buying an additional 177,698 shares in the last quarter. Bray Capital Advisors purchased a new position in shares of RB Global in the 4th quarter worth $984,000. Cerity Partners LLC purchased a new position in shares of RB Global in the 4th quarter worth $201,000. Finally, International Assets Investment Management LLC purchased a new position in shares of RB Global in the 4th quarter worth $900,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RB Global

In related news, insider Darren Jeffrey Watt sold 1,100 shares of RB Global stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at this link. In other news, CRO James J. Jeter sold 11,416 shares of the business’s 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 completion of the sale, the executive now owns 30,915 shares in the company, valued at approximately $2,359,432.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Darren Jeffrey Watt sold 1,100 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the sale, the insider now owns 21,103 shares of the company’s stock, valued at approximately $1,625,986.15. The disclosure for this sale can be found here. Insiders sold 14,816 shares of company stock worth $1,133,055 in the last 90 days. 4.32% of the stock is owned by corporate insiders.

RB Global Trading Down 1.0 %

Shares of RBA opened at $72.49 on Friday. RB Global, Inc. has a 1-year low of $51.07 and a 1-year high of $77.99. The company has a 50-day moving average of $74.02 and a 200 day moving average of $67.74. The firm has a market capitalization of $13.25 billion, a price-to-earnings ratio of 85.28, a PEG ratio of 5.56 and a beta of 0.87. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.35 and a quick ratio of 1.23.

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 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 company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business posted $0.40 EPS. The firm’s revenue for the quarter was up 134.5% on a year-over-year basis. On average, research analysts expect that RB Global, Inc. will post 1.88 EPS for the current year.

Wall Street Analyst Weigh In

RBA has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted their price target on shares of RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. StockNews.com raised shares of RB Global from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Scotiabank lifted their price target on shares of RB Global from $76.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 26th. Finally, Raymond James lifted their price target on shares of RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.80.

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.