Pinebridge Investments L.P. Boosts Stock Position in RB Global, Inc. (NYSE:RBA)

Pinebridge Investments L.P. raised its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 42.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,040 shares of the business services provider's stock after purchasing an additional 10,188 shares during the quarter. Pinebridge Investments L.P.'s holdings in RB Global were worth $3,071,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new position in shares of RB Global during the fourth quarter valued at approximately $27,000. Versant Capital Management Inc raised its stake in RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock valued at $28,000 after buying an additional 176 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after buying an additional 129 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of RB Global in the fourth quarter worth $36,000. Finally, Whipplewood Advisors LLC purchased a new stake in RB Global during the fourth quarter valued at $37,000. Institutional investors own 95.37% of the company's stock.

RB Global Price Performance

RBA traded up $1.53 on Wednesday, hitting $100.68. 1,770,277 shares of the company's stock traded hands, compared to its average volume of 1,087,217. RB Global, Inc. has a one year low of $69.83 and a one year high of $106.90. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The firm has a market cap of $18.64 billion, a price-to-earnings ratio of 50.09, a P/E/G ratio of 4.95 and a beta of 0.90. The company's 50 day simple moving average is $98.20 and its 200-day simple moving average is $93.75.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RBA shares. Raymond James boosted their price target on RB Global from $110.00 to $118.00 and gave the company 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. CIBC reduced their price objective on RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a research note on Monday, February 3rd. Robert W. Baird lifted their target price on RB Global from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada upped their price target on RB Global from $107.00 to $116.00 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 five have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $111.36.

Insider Activity

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of the business's stock in a transaction that occurred on 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 owns 107,569 shares in the company, valued at $10,521,323.89. The trade was a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $59,178.00. Following the completion of the sale, the executive now owns 19,667 shares in the company, valued at approximately $1,939,756.21. The trade was a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,897 shares of company stock worth $2,338,161. 4.32% of the stock is currently owned by insiders.

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.