Members Wealth LLC Sells 21,787 Shares of RB Global, Inc. $RBA

Key Points

• Members Wealth LLC cut its position in RB Global by 77%, selling 21,787 shares and retaining 6,515 shares valued at about $670,000.
• Analysts are largely bullish—seven Buys and one Hold with an average target of $125.13—and the company recently beat quarterly estimates (EPS $1.11 vs $0.99, revenue $1.20B vs $1.17B).
• Institutional ownership stands at 95.37% with several funds (CIBC, Fiera, TD, Caprock, JCIC) increasing stakes, while director Deborah Stein purchased 400 shares, boosting her holding to 1,400 shares.

Members Wealth LLC cut its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 77.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,515 shares of the business services provider's stock after selling 21,787 shares during the quarter. Members Wealth LLC's holdings in RB Global were worth $670,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Caprock Group LLC bought a new stake in shares of RB Global during the third quarter valued at approximately $1,724,000. Cibc World Market Inc. boosted its position in shares of RB Global by 60.7% during the third quarter. Cibc World Market Inc. now owns 179,707 shares of the business services provider's stock valued at $19,461,000 after purchasing an additional 67,860 shares in the last quarter. Fiera Capital Corp boosted its position in shares of RB Global by 4.9% during the third quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider's stock valued at $440,353,000 after purchasing an additional 190,408 shares in the last quarter. JCIC Asset Management Inc. bought a new stake in shares of RB Global during the third quarter valued at approximately $3,621,000. Finally, TD Asset Management Inc boosted its position in shares of RB Global by 1.2% during the third quarter. TD Asset Management Inc now owns 949,779 shares of the business services provider's stock valued at $102,896,000 after purchasing an additional 10,877 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Insider Transactions at RB Global

In related news, Director Deborah Stein acquired 400 shares of the stock in a transaction on Wednesday, March 18th. The stock was acquired at an average price of $98.74 per share, for a total transaction of $39,496.00. Following the completion of the purchase, the director owned 1,400 shares of the company's stock, valued at $138,236. This represents a 40.00% increase 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. Insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Raymond James Financial lifted their price target on RB Global from $135.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, January 20th. Royal Bank Of Canada lifted their price target on RB Global from $137.00 to $146.00 and gave the company an "outperform" rating in a research report on Wednesday, February 18th. BMO Capital Markets lifted their price target on RB Global from $135.00 to $140.00 and gave the company an "outperform" rating in a research report on Wednesday, February 18th. Weiss Ratings upgraded RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, February 26th. Finally, Stephens began coverage on RB Global in a research note on Friday, April 17th. They set an "equal weight" rating and a $96.00 price objective for the company. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, RB Global has an average rating of "Moderate Buy" and an average target price of $125.13.

RB Global Stock Up 3.6%

Shares of NYSE:RBA opened at $106.30 on Friday. The stock has a fifty day simple moving average of $100.61 and a two-hundred day simple moving average of $103.41. The stock has a market capitalization of $19.76 billion, a price-to-earnings ratio of 52.11, a PEG ratio of 1.56 and a beta of 0.57. RB Global, Inc. has a 12-month low of $93.58 and a 12-month high of $119.58. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.12. The business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.17 billion. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The firm's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 earnings per share. On average, research analysts anticipate that RB Global, Inc. will post 4.04 earnings per share for the current fiscal 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.

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