Daiwa Securities Group Inc. Lowers Position in RB Global, Inc. (NYSE:RBA)

Daiwa Securities Group Inc. lessened its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,188 shares of the business services provider’s stock after selling 318 shares during the period. Daiwa Securities Group Inc.’s holdings in RB Global were worth $414,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Cary Street Partners Investment Advisory LLC purchased a new stake in RB Global in the 3rd quarter worth approximately $26,000. Headlands Technologies LLC purchased a new position in shares of RB Global during the 3rd quarter valued at approximately $26,000. Oakworth Capital Inc. lifted its position in shares of RB Global by 53.3% during the 4th quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after buying an additional 162 shares in the last quarter. Signaturefd LLC lifted its position in shares of RB Global by 132.1% during the 3rd quarter. Signaturefd LLC now owns 1,727 shares of the business services provider’s stock valued at $108,000 after buying an additional 983 shares in the last quarter. Finally, Andra AP fonden purchased a new position in shares of RB Global during the 3rd quarter valued at approximately $144,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Stock Down 0.2 %

Shares of NYSE:RBA opened at $73.16 on Friday. The business has a 50-day moving average price of $74.51 and a 200 day moving average price of $68.08. 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 capitalization of $13.37 billion, a price-to-earnings ratio of 86.07, a PEG ratio of 5.52 and a beta of 0.87. RB Global, Inc. has a 12-month low of $51.07 and a 12-month high of $77.99.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data 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. RB Global had a return on equity of 4.19% and a net margin of 5.61%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the company earned $0.40 EPS. The company’s quarterly revenue was up 134.5% on a year-over-year basis. Sell-side analysts expect that RB Global, Inc. will post 1.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RBA shares. Scotiabank increased their target price on RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a research report on Wednesday. StockNews.com upgraded 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 objective on RB Global from $75.00 to $93.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Finally, Raymond James increased their price objective on RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Insider Activity at RB Global

In related news, CRO James J. Jeter sold 11,416 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $76.32, for a total transaction of $871,269.12. Following the completion of the transaction, the executive now directly owns 30,915 shares in the company, valued at approximately $2,359,432.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Darren Jeffrey Watt sold 1,100 shares of RB Global stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total value of $84,755.00. Following the completion of the transaction, the insider now owns 21,103 shares in the company, valued at approximately $1,625,986.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO James J. Jeter sold 11,416 shares of RB Global stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $76.32, for a total value of $871,269.12. Following the completion of the transaction, the executive now owns 30,915 shares of the company’s stock, valued at approximately $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 three months. 4.32% of the stock is owned by company insiders.

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.