NFJ Investment Group LLC Has $30.85 Million Holdings in RB Global, Inc. (NYSE:RBA)

NFJ Investment Group LLC cut its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 9.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 341,950 shares of the business services provider's stock after selling 34,944 shares during the period. RB Global accounts for approximately 1.0% of NFJ Investment Group LLC's holdings, making the stock its 24th biggest holding. NFJ Investment Group LLC owned approximately 0.19% of RB Global worth $30,847,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Central Pacific Bank Trust Division bought a new stake in shares of RB Global in the 4th quarter worth about $27,000. Versant Capital Management Inc lifted its stake in RB Global by 136.4% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock worth $28,000 after purchasing an additional 176 shares during the last quarter. Jones Financial Companies Lllp increased its stake in RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after purchasing an additional 129 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of RB Global during the fourth quarter worth $37,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of RB Global in the 4th quarter valued at about $40,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Down 2.4 %

Shares of RBA stock traded down $2.32 on Monday, hitting $95.06. The company's stock had a trading volume of 161,517 shares, compared to its average volume of 1,101,553. The stock has a market capitalization of $17.57 billion, a price-to-earnings ratio of 47.29, a P/E/G ratio of 4.95 and a beta of 0.90. The firm's fifty day moving average price is $98.22 and its 200-day moving average price is $92.99. RB Global, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17.

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 analysts' consensus estimates of $0.81 by ($0.23). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same quarter in the previous year, the firm posted $0.82 earnings per share. Research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RBA. Raymond James boosted their price objective on RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Robert W. Baird increased their price target on RB Global from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. StockNews.com cut RB Global from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. National Bankshares lowered their price objective on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, BMO Capital Markets boosted their target price on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $108.56.

Insider Activity at RB Global

In related news, CRO James J. Jeter sold 7,597 shares of RB Global stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the sale, the executive now directly owns 20,267 shares of the company's stock, valued at $1,983,125.95. This trade represents a 27.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares of the company's stock, valued at $10,521,323.89. This trade represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,897 shares of company stock worth $2,338,161 in the last 90 days. 4.32% of the stock is owned by company insiders.

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.