RB Global, Inc. $RBA Shares Bought by Oppenheimer Asset Management Inc.

Key Points

• Oppenheimer Asset Management increased its stake in RB Global by 20.5% in Q4 to 173,358 shares (about 0.09% of the company) valued at $17.83 million, and institutional investors now own roughly 95.37% of the stock.
• Positive analyst sentiment and results: RB Global beat Q4 estimates with EPS $1.11 vs. $0.99 and revenue $1.20B (up 5.4% YoY), and most analysts rate the stock a Buy with a consensus price target of $125.13 ("Moderate Buy").
• Director Deborah Stein purchased 400 shares at an average price of $98.74 on March 18, increasing her holdings by 40%, indicating insider buying activity.

Oppenheimer Asset Management Inc. boosted its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 20.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 173,358 shares of the business services provider's stock after acquiring an additional 29,530 shares during the period. Oppenheimer Asset Management Inc. owned about 0.09% of RB Global worth $17,833,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. grew its holdings in shares of RB Global by 21.9% during the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock worth $54,000 after buying an additional 97 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in RB Global by 5.4% in the third quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider's stock valued at $221,000 after purchasing an additional 105 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in RB Global by 12.9% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 938 shares of the business services provider's stock valued at $102,000 after purchasing an additional 107 shares during the period. Central Pacific Bank Trust Division grew its holdings in RB Global by 41.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider's stock valued at $37,000 after purchasing an additional 107 shares during the period. Finally, Sigma Planning Corp grew its holdings in RB Global by 1.4% in the fourth quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider's stock valued at $866,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RBA shares. BMO Capital Markets boosted their target price on shares of RB Global from $135.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, February 18th. Royal Bank Of Canada boosted their target price on shares of RB Global from $137.00 to $146.00 and gave the company an "outperform" rating in a report on Wednesday, February 18th. Weiss Ratings upgraded shares of RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, February 26th. Raymond James Financial boosted their target price on shares of RB Global from $135.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday, January 20th. Finally, Stephens started coverage on shares of RB Global in a report on Friday, April 17th. They issued an "equal weight" rating and a $96.00 target price for the company. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, RB Global currently has an average rating of "Moderate Buy" and a consensus price target of $125.13.

RB Global Price Performance

RBA opened at $104.49 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.41. RB Global, Inc. has a 52-week low of $93.58 and a 52-week high of $119.58. The company has a 50 day moving average of $100.81 and a two-hundred day moving average of $103.43. The company has a market cap of $19.43 billion, a P/E ratio of 51.22, a P/E/G ratio of 1.60 and a beta of 0.57.

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

Insider Buying and Selling at RB Global

In other news, Director Deborah Stein bought 400 shares of the firm's stock in a transaction dated Wednesday, March 18th. The stock was acquired at an average cost 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 trade represents a 40.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.57% of the company's stock.

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.

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