RB Global, Inc. $RBA Stock Holdings Lowered by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. trimmed its stake in RB Global (NYSE:RBA) by 0.1% (sold 35,154 shares) in Q4 but still owns 25,295,272 shares—13.61% of the company—valued at about $2.60 billion.
• RB Global beat quarterly expectations, reporting $1.11 EPS vs. $0.99 est. and $1.20 billion in revenue (up 5.4% year-over-year).
• Analyst sentiment is largely positive—seven Buy ratings and one Hold—with a consensus price target of $125.13 and several firms recently raising targets.

Vanguard Group Inc. lowered its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 0.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 25,295,272 shares of the business services provider's stock after selling 35,154 shares during the period. Vanguard Group Inc. owned 13.61% of RB Global worth $2,602,775,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Caprock Group LLC acquired a new stake in RB Global in the third quarter worth about $1,724,000. Cibc World Market Inc. lifted its holdings in RB Global by 60.7% in the third quarter. Cibc World Market Inc. now owns 179,707 shares of the business services provider's stock worth $19,461,000 after purchasing an additional 67,860 shares during the period. Fiera Capital Corp lifted its holdings in RB Global by 4.9% in the third quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider's stock worth $440,353,000 after purchasing an additional 190,408 shares during the period. JCIC Asset Management Inc. acquired a new stake in RB Global in the third quarter worth about $3,621,000. Finally, TD Asset Management Inc lifted its holdings in RB Global by 1.2% in the third quarter. TD Asset Management Inc now owns 949,779 shares of the business services provider's stock worth $102,896,000 after purchasing an additional 10,877 shares during the period. Institutional investors own 95.37% of the company's stock.

Insiders Place Their Bets

In other RB Global news, Director Deborah Stein purchased 400 shares of the business's stock in a transaction on Wednesday, March 18th. The stock was bought at an average cost of $98.74 per share, with a total value of $39,496.00. Following the acquisition, the director owned 1,400 shares of the company's stock, valued at $138,236. The trade was a 40.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.57% of the company's stock.

RB Global Price Performance

Shares of NYSE RBA opened at $105.16 on Wednesday. RB Global, Inc. has a twelve month low of $93.58 and a twelve 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. The company has a market capitalization of $19.55 billion, a price-to-earnings ratio of 51.55, a PEG ratio of 1.64 and a beta of 0.57. The firm has a 50-day moving average of $100.84 and a two-hundred day moving average of $103.41.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates 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 prior year, the company earned $0.95 EPS. RB Global's revenue was up 5.4% on a year-over-year basis. As a group, analysts expect that RB Global, Inc. will post 4.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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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