International Assets Investment Management LLC Acquires Shares of 13,454 RB Global, Inc. (NYSE:RBA)

International Assets Investment Management LLC bought a new stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,454 shares of the business services provider's stock, valued at approximately $900,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mariner LLC boosted its holdings in RB Global by 3.6% during the third quarter. Mariner LLC now owns 27,567 shares of the business services provider's stock worth $1,723,000 after buying an additional 946 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in RB Global by 10.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,320,114 shares of the business services provider's stock worth $645,007,000 after buying an additional 977,171 shares during the last quarter. FMR LLC boosted its holdings in RB Global by 49.2% during the third quarter. FMR LLC now owns 42,443 shares of the business services provider's stock worth $2,656,000 after buying an additional 13,987 shares during the last quarter. Pathstone Family Office LLC bought a new position in RB Global during the third quarter worth about $226,000. Finally, Legal & General Group Plc bought a new position in RB Global during the third quarter worth about $49,791,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Stock Up 0.2 %

Shares of NYSE:RBA traded up $0.13 during trading on Wednesday, hitting $73.37. 451,168 shares of the company were exchanged, compared to its average volume of 812,304. The stock has a market cap of $13.41 billion, a price-to-earnings ratio of 85.95, a P/E/G ratio of 5.48 and a beta of 0.87. RB Global, Inc. has a fifty-two week low of $51.07 and a fifty-two week high of $77.99. The firm has a fifty day moving average price of $74.33 and a two-hundred day moving average price of $68.01. The company has a current ratio of 1.35, a quick ratio of 1.23 and a debt-to-equity ratio of 0.61.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.14. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. RB Global had a return on equity of 4.19% and a net margin of 5.61%. The business's quarterly revenue was up 134.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 EPS. As a group, research analysts anticipate that RB Global, Inc. will post 1.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Darren Jeffrey Watt sold 2,300 shares of RB Global stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $76.97, for a total transaction of $177,031.00. Following the completion of the transaction, the insider now directly owns 21,103 shares in the company, valued at approximately $1,624,297.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Darren Jeffrey Watt sold 2,300 shares of RB Global stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $76.97, for a total transaction of $177,031.00. Following the completion of the transaction, the insider now directly owns 21,103 shares in the company, valued at approximately $1,624,297.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO James J. Jeter sold 11,416 shares of RB Global stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $76.32, for a total value of $871,269.12. Following the transaction, the executive now owns 30,915 shares of the company's stock, valued at $2,359,432.80. The disclosure for this sale can be found here. Insiders have sold 14,816 shares of company stock valued at $1,133,055 in the last 90 days. 4.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on RBA shares. StockNews.com upgraded RB Global from a "sell" rating to a "hold" rating in a report on Friday, February 9th. Royal Bank of Canada lifted their price objective on RB Global from $75.00 to $93.00 and gave the company an "outperform" rating in a report on Monday, February 26th. Raymond James lifted their price objective on RB Global from $78.00 to $90.00 and gave the company an "outperform" rating in a report on Monday, February 26th. Finally, Scotiabank lifted their price objective on RB Global from $88.00 to $89.00 and gave the company a "sector outperform" rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, RB Global currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

RB Global Company 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.