8,496 RB Global, Inc. $RBA Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.3% in the third quarter, Holdings Channel reports. The institutional investor owned 251,918 shares of the business services provider’s stock after selling 8,496 shares during the period. ProShare Advisors LLC’s holdings in RB Global were worth $20,504,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Addison Advisors LLC acquired a new stake in RB Global during the 2nd quarter worth approximately $26,000. J.Safra Asset Management Corp acquired a new position in RB Global in the 2nd quarter valued at approximately $32,000. Integrated Wealth Concepts LLC bought a new position in shares of RB Global during the second quarter valued at $35,000. Cassaday & Co Wealth Management LLC bought a new position in shares of RB Global during the first quarter valued at $43,000. Finally, Axiom Investment Management LLC acquired a new position in shares of RB Global during the first quarter worth $76,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Deborah Stein bought 500 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were acquired at an average price of $80.91 per share, for a total transaction of $40,455.00. Following the completion of the acquisition, the director directly owned 2,325 shares in the company, valued at approximately $188,115.75. This represents a 27.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Chloe Harford purchased 1,200 shares of the business’s stock in a transaction on Monday, August 24th. The shares were purchased at an average cost of $83.74 per share, for a total transaction of $100,488.00. Following the transaction, the director directly owned 1,200 shares of the company’s stock, valued at approximately $100,488. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $152.00 price objective on shares of RB Global in a research note on Wednesday, September 23rd. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings lowered RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 18th. Barclays cut their target price on RB Global from $121.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Finally, Zacks Research lowered RB Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.29.

RB Global Stock Performance

Shares of RBA stock opened at $93.47 on Tuesday. The stock has a market capitalization of $16.94 billion, a PE ratio of 40.11, a PEG ratio of 1.44 and a beta of 0.53. The business’s 50 day simple moving average is $84.02 and its 200 day simple moving average is $99.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. RB Global, Inc. has a one year low of $78.05 and a one year high of $119.33.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.21 billion. RB Global had a net margin of 9.99% and a return on equity of 12.37%. As a group, research analysts forecast that RB Global, Inc. will post 4.06 earnings per share for the current year.

RB Global announced that its board has approved a stock repurchase program on Tuesday, September 15th that allows the company to repurchase $500 million in outstanding shares. This buyback authorization allows the business services provider to purchase up to 3.3% of its shares through open market purchases. Share buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

RB Global Profile

RB Global, Inc is a global marketplace and provider of asset management and disposition services for commercial and industrial equipment, vehicles and other durable assets. The company connects buyers and sellers through live and online auctions, negotiated sales and digital marketplaces, serving industries such as construction, transportation, agriculture, energy, government and automotive.

Its portfolio includes Ritchie Bros., a major auction and marketplace brand for heavy equipment; IAA, which specializes in salvage and repairable vehicle auctions; and Mascus, an online marketplace for used equipment.