International Assets Investment Management LLC Acquires Shares of 13,131 RB Global, Inc. (NYSE:RBA)

International Assets Investment Management LLC bought a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 13,131 shares of the business services provider’s stock, valued at approximately $1,057,000.

A number of other hedge funds also recently bought and sold shares of the company. Mawer Investment Management Ltd. boosted its position in RB Global by 83.4% in the first quarter. Mawer Investment Management Ltd. now owns 104,398 shares of the business services provider’s stock worth $7,952,000 after purchasing an additional 47,474 shares during the last quarter. Duality Advisers LP bought a new position in RB Global during the first quarter valued at approximately $842,000. SG Americas Securities LLC grew its holdings in shares of RB Global by 365.3% in the first quarter. SG Americas Securities LLC now owns 18,069 shares of the business services provider’s stock valued at $1,376,000 after purchasing an additional 14,186 shares in the last quarter. Tectonic Advisors LLC increased its holdings in shares of RB Global by 7.2% in the 1st quarter. Tectonic Advisors LLC now owns 88,309 shares of the business services provider’s stock worth $6,726,000 after buying an additional 5,966 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its stake in RB Global by 4.9% during the first quarter. Orion Portfolio Solutions LLC now owns 15,359 shares of the business services provider’s stock worth $1,170,000 after acquiring an additional 713 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, CRO James J. Jeter sold 3,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total value of $256,650.00. Following the sale, the executive now directly owns 20,267 shares in the company, valued at approximately $1,733,841.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other RB Global news, CRO James J. Jeter sold 2,920 shares of RB Global stock in a transaction on Tuesday, August 13th. The shares were 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 in the company, valued at approximately $1,837,162.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 3,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.55, for a total value of $256,650.00. Following the sale, the executive now directly owns 20,267 shares of the company’s stock, valued at $1,733,841.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,601 shares of company stock valued at $3,720,043 in the last three months. 4.32% of the stock is owned by corporate insiders.

RB Global Stock Performance

Shares of RB Global stock opened at $85.40 on Tuesday. The firm has a market cap of $15.75 billion, a PE ratio of 47.98, a price-to-earnings-growth ratio of 5.52 and a beta of 0.92. RB Global, Inc. has a 52 week low of $58.85 and a 52 week high of $87.45. The business’s fifty day simple moving average is $83.41 and its 200-day simple moving average is $79.22. 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 (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The company’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. Equities analysts forecast that RB Global, Inc. will post 1.92 earnings per share for the current year.

RB Global 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.