International Assets Investment Management LLC Invests $900,000 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 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 13,454 shares of the business services provider’s stock, valued at approximately $900,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of RB Global by 144.9% during the 3rd quarter. Vanguard Group Inc. now owns 22,647,288 shares of the business services provider’s stock valued at $1,415,456,000 after acquiring an additional 13,400,942 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in RB Global by 10.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,320,114 shares of the business services provider’s stock valued at $645,007,000 after purchasing an additional 977,171 shares during the period. Canoe Financial LP acquired a new position in RB Global during the third quarter worth approximately $56,967,000. Legal & General Group Plc purchased a new position in RB Global during the third quarter worth approximately $49,791,000. Finally, Cidel Asset Management Inc. boosted its holdings in shares of RB Global by 50.4% in the 3rd quarter. Cidel Asset Management Inc. now owns 1,375,673 shares of the business services provider’s stock valued at $86,528,000 after purchasing an additional 460,858 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RBA has been the topic of several research reports. StockNews.com raised RB Global from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Royal Bank of Canada increased their price target on shares of RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research report on Monday, February 26th. Scotiabank boosted their price objective on RB Global from $76.00 to $88.00 and gave the company a “sector outperform” rating in a report on Monday, February 26th. Finally, Raymond James increased their target price on RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.80.

Insider Activity at RB Global

In other RB Global news, CRO James J. Jeter sold 11,416 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $76.32, for a total transaction of $871,269.12. Following the sale, the executive now directly owns 30,915 shares in the company, valued at approximately $2,359,432.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Darren Jeffrey Watt sold 2,300 shares of RB Global stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $76.97, for a total transaction of $177,031.00. Following the transaction, the insider now directly owns 21,103 shares of the company’s stock, valued at $1,624,297.91. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO James J. Jeter sold 11,416 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $76.32, for a total transaction of $871,269.12. Following the completion of the sale, the executive now directly owns 30,915 shares of the company’s stock, valued at $2,359,432.80. The disclosure for this sale can be found here. Insiders sold 14,816 shares of company stock worth $1,133,055 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

RB Global Stock Performance

Shares of NYSE RBA opened at $73.23 on Wednesday. RB Global, Inc. has a 12-month low of $51.07 and a 12-month high of $77.99. The company has a current ratio of 1.35, a quick ratio of 1.23 and a debt-to-equity ratio of 0.61. The company has a market cap of $13.38 billion, a PE ratio of 86.08, a P/E/G ratio of 5.52 and a beta of 0.87. The stock has a 50 day simple moving average of $74.20 and a 200-day simple moving average of $67.95.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. The company 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 firm’s quarterly revenue was up 134.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. On average, equities research analysts forecast that RB Global, Inc. will post 1.88 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.