DekaBank Deutsche Girozentrale Reduces Stock Holdings in RB Global, Inc. (NYSE:RBA)

DekaBank Deutsche Girozentrale reduced its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,316 shares of the business services provider’s stock after selling 324 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in RB Global were worth $2,100,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Intech Investment Management LLC acquired a new stake in shares of RB Global in the first quarter valued at approximately $613,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of RB Global by 25.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider’s stock worth $27,927,000 after purchasing an additional 74,809 shares during the period. Arlington Partners LLC lifted its holdings in shares of RB Global by 22.3% during the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock worth $3,958,000 after purchasing an additional 8,961 shares during the period. MJP Associates Inc. ADV lifted its holdings in shares of RB Global by 10.7% during the second quarter. MJP Associates Inc. ADV now owns 4,159 shares of the business services provider’s stock worth $318,000 after purchasing an additional 401 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of RB Global by 1,177.0% during the first quarter. Cetera Investment Advisers now owns 43,572 shares of the business services provider’s stock worth $3,319,000 after purchasing an additional 40,160 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the sale, the insider now directly owns 19,271 shares of the company’s stock, valued at approximately $1,595,638.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CRO James J. Jeter sold 2,920 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total value of $230,563.20. Following the transaction, the executive now directly owns 23,267 shares of the company’s stock, valued at approximately $1,837,162.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Darren Jeffrey Watt sold 2,915 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the transaction, the insider now directly owns 19,271 shares in the company, valued at $1,595,638.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,601 shares of company stock valued at $3,720,043. Corporate insiders own 4.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on RBA. BMO Capital Markets began coverage on RB Global in a report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 target price for the company. Royal Bank of Canada raised their target price on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Bank of America raised their target price on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. Robert W. Baird raised their target price on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Raymond James raised their target price on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, RB Global has a consensus rating of “Moderate Buy” and a consensus price target of $92.19.

RB Global Trading Up 0.4 %

Shares of RBA stock opened at $85.12 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29. RB Global, Inc. has a 1 year low of $58.85 and a 1 year high of $87.45. The stock has a fifty day moving average of $83.43 and a two-hundred day moving average of $79.05. The firm has a market capitalization of $15.70 billion, a PE ratio of 47.82, a price-to-earnings-growth ratio of 5.62 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the business posted $0.42 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis. As a group, research analysts expect that RB Global, Inc. will post 1.92 EPS for the current year.

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.