Cerity Partners LLC Takes $201,000 Position in RB Global, Inc. (NYSE:RBA)

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

Several other large investors also recently modified their holdings of the company. Claret Asset Management Corp boosted its position in RB Global by 1.7% in the third quarter. Claret Asset Management Corp now owns 14,217 shares of the business services provider’s stock worth $889,000 after purchasing an additional 238 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of RB Global by 0.3% in the third quarter. State Board of Administration of Florida Retirement System now owns 103,115 shares of the business services provider’s stock worth $6,445,000 after buying an additional 280 shares during the last quarter. Mutual Advisors LLC grew its position in RB Global by 6.9% during the fourth quarter. Mutual Advisors LLC now owns 4,786 shares of the business services provider’s stock valued at $320,000 after buying an additional 309 shares during the period. Parkside Financial Bank & Trust increased its holdings in RB Global by 9.7% during the third quarter. Parkside Financial Bank & Trust now owns 3,715 shares of the business services provider’s stock valued at $232,000 after buying an additional 327 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in RB Global by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 79,780 shares of the business services provider’s stock worth $4,986,000 after acquiring an additional 400 shares during the period. Institutional investors own 95.37% of the company’s stock.

RB Global Trading Up 0.7 %

Shares of RB Global stock opened at $73.69 on Tuesday. 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 company has a fifty 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 P/E ratio of 86.69, a P/E/G ratio of 5.50 and a beta of 0.87. RB Global, Inc. has a fifty-two week low of $51.07 and a fifty-two week high of $77.99.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Friday, February 23rd. The business services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. RB Global had a return on equity of 4.19% and a net margin of 5.61%. The business’s quarterly revenue was up 134.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share. On average, sell-side analysts anticipate that RB Global, Inc. will post 1.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, insider Darren Jeffrey Watt sold 2,300 shares of RB Global stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $76.97, for a total transaction of $177,031.00. Following the sale, the insider now owns 21,103 shares in the company, valued at $1,624,297.91. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other RB Global news, CRO James J. Jeter sold 11,416 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $76.32, for a total value of $871,269.12. Following the sale, the executive now owns 30,915 shares in the company, valued at approximately $2,359,432.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Darren Jeffrey Watt sold 2,300 shares of the firm’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 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. Insiders sold 14,816 shares of company stock worth $1,133,055 in the last three months. 4.10% of the stock is owned by company insiders.

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.