Mn Services Vermogensbeheer B.V. Decreases Position in RB Global, Inc. (NYSE:RBA)

Mn Services Vermogensbeheer B.V. cut its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,900 shares of the business services provider’s stock after selling 2,200 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in RB Global were worth $5,632,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Intech Investment Management LLC purchased a new position in RB Global in the 1st quarter worth approximately $613,000. Price T Rowe Associates Inc. MD increased its holdings in shares of RB Global by 25.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider’s stock worth $27,927,000 after buying an additional 74,809 shares during the last quarter. Arlington Partners LLC increased its holdings in shares of RB Global by 22.3% during the 3rd quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock worth $3,958,000 after buying an additional 8,961 shares during the last quarter. MJP Associates Inc. ADV increased its holdings in shares of RB Global by 10.7% during the 2nd quarter. MJP Associates Inc. ADV now owns 4,159 shares of the business services provider’s stock worth $318,000 after buying an additional 401 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of RB Global by 1,177.0% during the 1st quarter. Cetera Investment Advisers now owns 43,572 shares of the business services provider’s stock worth $3,319,000 after buying an additional 40,160 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction on Monday, September 9th. The shares were sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the completion of the sale, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at approximately $7,166,263.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Darren Jeffrey Watt sold 2,915 shares of RB Global stock in a transaction on Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the completion of the sale, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at approximately $7,166,263.23. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,601 shares of company stock valued at $3,720,043. Insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

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

RB Global Stock Performance

NYSE:RBA opened at $89.35 on Thursday. The company has a fifty day simple moving average of $83.46 and a two-hundred day simple moving average of $79.48. The company has a market cap of $16.48 billion, a price-to-earnings ratio of 50.20, a price-to-earnings-growth ratio of 5.57 and a beta of 0.92. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. RB Global, Inc. has a 52 week low of $58.85 and a 52 week high of $89.57.

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