First Trust Advisors LP Buys 4,224 Shares of RB Global, Inc. (NYSE:RBA)

First Trust Advisors LP boosted its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 15.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,783 shares of the business services provider's stock after purchasing an additional 4,224 shares during the period. First Trust Advisors LP's holdings in RB Global were worth $2,777,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RBA. Raymond James Financial Inc. bought a new position in shares of RB Global during the fourth quarter worth about $266,148,000. Norges Bank bought a new position in shares of RB Global during the 4th quarter worth approximately $209,931,000. FMR LLC raised its holdings in shares of RB Global by 137.5% in the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider's stock valued at $252,985,000 after purchasing an additional 1,623,429 shares during the last quarter. Vontobel Holding Ltd. lifted its position in shares of RB Global by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock worth $762,378,000 after purchasing an additional 753,700 shares in the last quarter. Finally, FIL Ltd boosted its holdings in RB Global by 26.4% during the fourth quarter. FIL Ltd now owns 2,030,696 shares of the business services provider's stock worth $183,189,000 after purchasing an additional 424,060 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Insider Buying and Selling at RB Global

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

Analysts Set New Price Targets

Several brokerages have commented on RBA. Raymond James boosted their price target on shares of RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Royal Bank of Canada raised their price target on RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. BMO Capital Markets upped their price objective on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. StockNews.com cut shares of RB Global from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Finally, Robert W. Baird upped their price target on shares of RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $111.36.

RB Global Stock Up 2.6 %

RBA opened at $102.55 on Monday. The stock's fifty day simple moving average is $98.13 and its 200 day simple moving average is $94.28. RB Global, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90. The stock has a market cap of $18.99 billion, a PE ratio of 51.02, a price-to-earnings-growth ratio of 4.95 and a beta of 0.90. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

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