International Assets Investment Management LLC Invests $1.06 Million in RB Global, Inc. (NYSE:RBA)

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

Several other institutional investors have also added to or reduced their stakes in RBA. Massmutual Trust Co. FSB ADV increased its position in shares of RB Global by 58.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after buying an additional 165 shares during the period. UMB Bank n.a. increased its stake in shares of RB Global by 196.0% in the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after purchasing an additional 388 shares in the last quarter. Quarry LP bought a new stake in shares of RB Global during the 2nd quarter valued at $53,000. Nisa Investment Advisors LLC lifted its stake in RB Global by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after purchasing an additional 210 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of RB Global by 30.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,020 shares of the business services provider’s stock worth $78,000 after buying an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Activity at RB Global

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the sale, the chief executive officer now owns 86,247 shares in the company, valued at $7,261,134.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the completion of the transaction, the chief executive officer now owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. 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 this hyperlink. Also, CRO James J. Jeter sold 2,920 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 44,601 shares of company stock valued at $3,720,043 over the last ninety days. Insiders own 4.32% of the company’s stock.

RB Global Stock Up 0.4 %

Shares of NYSE RBA opened at $85.40 on Tuesday. The firm has a fifty day moving average of $83.41 and a 200-day moving average of $79.22. The stock has a market capitalization of $15.75 billion, a PE ratio of 47.98, a P/E/G ratio of 5.52 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 $87.45.

RB Global (NYSE:RBA) (TSE:RBA) last released 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 net margin of 8.67% and a return on equity of 7.27%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts anticipate that RB Global, Inc. will post 1.92 EPS for the current year.

Analysts Set New Price Targets

RBA has been the subject of several research analyst reports. Robert W. Baird lifted their price target on shares of RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. BMO Capital Markets started coverage on RB Global in a research report on Thursday, September 5th. They set an “outperform” rating and a $105.00 target price on the stock. Royal Bank of Canada upped their price objective on shares of RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Raymond James upped their price objective on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Bank of America lifted their price target on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Two investment 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.19.

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.