Covalis Capital LLP Raises Holdings in RB Global, Inc. (NYSE:RBA)

Covalis Capital LLP raised its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,158 shares of the business services provider's stock after purchasing an additional 16,184 shares during the period. RB Global makes up approximately 2.4% of Covalis Capital LLP's investment portfolio, making the stock its 12th biggest position. Covalis Capital LLP owned 0.10% of RB Global worth $16,432,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Natixis Advisors LLC increased its position in shares of RB Global by 69.5% during the fourth quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider's stock worth $1,703,000 after buying an additional 7,737 shares during the period. Mawer Investment Management Ltd. lifted its holdings in shares of RB Global by 15.7% in the fourth quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider's stock valued at $10,876,000 after purchasing an additional 16,397 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of RB Global by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock valued at $2,248,060,000 after purchasing an additional 358,752 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in shares of RB Global during the 4th quarter worth approximately $27,000. Finally, Pictet Asset Management Holding SA grew its holdings in shares of RB Global by 16.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 100,318 shares of the business services provider's stock valued at $9,050,000 after acquiring an additional 13,836 shares in the last quarter. Institutional investors own 95.37% of the company's stock.

Insiders Place Their Bets

In related news, CEO James Francis Kessler sold 15,700 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the sale, the chief executive officer now owns 107,569 shares in the company, valued at approximately $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 600 shares of the business's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $98.63, for a total value of $59,178.00. Following the sale, the executive now owns 19,667 shares of the company's stock, valued at approximately $1,939,756.21. This represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,897 shares of company stock valued at $2,338,161. 4.32% of the stock is owned by insiders.

RB Global Stock Up 0.9 %

Shares of RB Global stock traded up $0.85 during trading on Thursday, hitting $99.09. The company's stock had a trading volume of 344,963 shares, compared to its average volume of 1,091,875. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90. The company has a fifty day simple moving average of $98.30 and a two-hundred day simple moving average of $93.15. The company has a market capitalization of $18.31 billion, a PE ratio of 49.30, a P/E/G ratio of 4.95 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. Equities research analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. National Bankshares dropped their price objective on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. CIBC dropped their price target on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a research note on Monday, February 3rd. Raymond James increased their target price on RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, StockNews.com cut RB Global from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $108.56.

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.