Stifel Financial Corp Increases Stock Holdings in RB Global, Inc. (NYSE:RBA)

Stifel Financial Corp boosted its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 86.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,659 shares of the business services provider's stock after acquiring an additional 65,849 shares during the period. Stifel Financial Corp owned 0.08% of RB Global worth $12,779,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in shares of RB Global in the third quarter worth $465,000. Retirement Systems of Alabama increased its holdings in RB Global by 1.1% in the 3rd quarter. Retirement Systems of Alabama now owns 287,684 shares of the business services provider's stock valued at $23,156,000 after buying an additional 3,192 shares during the period. Versant Capital Management Inc increased its holdings in RB Global by 136.4% in 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 period. Everence Capital Management Inc. acquired a new position in shares of RB Global in the 4th quarter valued at approximately $447,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of RB Global during the 4th quarter worth approximately $27,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other RB Global news, CRO James J. Jeter sold 7,597 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.85, for a total transaction of $743,366.45. Following the sale, the executive now owns 20,267 shares of the company's stock, valued at approximately $1,983,125.95. This represents a 27.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total value 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 approximately $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. In the last three months, insiders have sold 23,897 shares of company stock valued at $2,338,161. 4.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

RB Global Trading Up 2.3 %

NYSE RBA traded up $2.29 during trading hours on Friday, reaching $102.24. The company's stock had a trading volume of 872,523 shares, compared to its average volume of 1,091,068. The firm has a fifty day simple moving average of $98.10 and a 200-day simple moving average of $93.93. 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, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90. The stock has a market cap of $18.93 billion, a P/E ratio of 50.85, a P/E/G ratio of 4.95 and a beta of 0.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly 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). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the business posted $0.82 EPS. Equities analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal 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.