RB Global, Inc. $RBA Position Reduced by Kampmann Melissa S.

Key Points

• Kampmann Melissa S. cut its RB Global position by 55.3% in the third quarter, selling 13,217 shares and retaining 10,685 shares valued at approximately $870,000.
• Institutional investors own 95.37% of RB Global, with major holders including BlackRock, EdgePoint Investment Group, Jupiter Topco, Royal Bank of Canada and Janus Henderson.
• RB Global exceeded quarterly earnings and revenue expectations and authorized a $500 million share-repurchase program; analysts maintain a “Moderate Buy” consensus with a $126.29 average price target.

Kampmann Melissa S. decreased its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 55.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,685 shares of the business services provider's stock after selling 13,217 shares during the quarter. Kampmann Melissa S.'s holdings in RB Global were worth $870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in RB Global during the second quarter valued at approximately $1,816,059,000. EdgePoint Investment Group Inc. grew its holdings in RB Global by 14.4% during the first quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider's stock valued at $845,337,000 after purchasing an additional 1,111,217 shares during the period. Jupiter Topco LLC purchased a new stake in RB Global in the second quarter worth about $514,871,000. Royal Bank of Canada increased its position in RB Global by 13.1% in the first quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider's stock worth $483,432,000 after buying an additional 585,617 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of RB Global by 7.0% in the first quarter. Janus Henderson Group PLC now owns 4,371,610 shares of the business services provider's stock worth $418,876,000 after buying an additional 285,713 shares during the period. Hedge funds and other institutional investors own 95.37% of the company's stock.

RB Global Stock Performance

NYSE RBA opened at $89.66 on Friday. The firm has a market cap of $16.25 billion, a price-to-earnings ratio of 38.48, a price-to-earnings-growth ratio of 1.51 and a beta of 0.53. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $83.89 and a 200-day moving average price of $99.86. RB Global, Inc. has a twelve month low of $78.05 and a twelve month high of $119.33.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its 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. RB Global had a return on equity of 12.37% and a net margin of 9.99%. The firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.21 billion. As a group, equities research analysts predict that RB Global, Inc. will post 4.06 EPS for the current fiscal year.

RB Global announced that its Board of Directors has initiated a share repurchase plan on Tuesday, September 15th that authorizes the company to buy back $500 million in shares. This repurchase authorization authorizes the business services provider to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

RBA has been the subject of a number of recent research reports. Weiss Ratings downgraded RB Global from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, September 18th. Barclays decreased their target price on shares of RB Global from $121.00 to $110.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 6th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $152.00 price target on shares of RB Global in a report on Wednesday, September 23rd. Wall Street Zen lowered shares of RB Global from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. Finally, Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of RB Global in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $126.29.

Insider Activity at RB Global

In related news, Director Chloe Harford acquired 1,200 shares of the business's stock in a transaction on Monday, August 24th. The stock was acquired at an average cost of $83.74 per share, with a total value of $100,488.00. Following the acquisition, the director directly owned 1,200 shares in the company, valued at $100,488. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Deborah Stein acquired 500 shares of the business's stock in a transaction on Wednesday, September 9th. The shares were bought at an average cost of $80.91 per share, with a total value of $40,455.00. Following the completion of the acquisition, the director 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 SEC filing for this purchase provides additional information. Corporate insiders own 0.57% of the company's stock.

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.

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