ArrowMark Colorado Holdings LLC Cuts Holdings in RB Global, Inc. (NYSE:RBA)

ArrowMark Colorado Holdings LLC lessened its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 15.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,409,520 shares of the business services provider's stock after selling 430,981 shares during the period. RB Global accounts for 2.9% of ArrowMark Colorado Holdings LLC's holdings, making the stock its biggest position. ArrowMark Colorado Holdings LLC owned about 1.30% of RB Global worth $217,363,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Natixis Advisors LLC boosted its stake in shares of RB Global by 69.5% in the fourth quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider's stock valued at $1,703,000 after buying an additional 7,737 shares during the period. Mawer Investment Management Ltd. boosted its stake in RB Global by 15.7% in the fourth quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider's stock valued at $10,876,000 after buying an additional 16,397 shares in the last quarter. Vanguard Group Inc. grew its position in RB Global by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock valued at $2,248,060,000 after acquiring an additional 358,752 shares during the last quarter. MetLife Investment Management LLC raised its stake in RB Global by 9.2% during the fourth quarter. MetLife Investment Management LLC now owns 103,934 shares of the business services provider's stock worth $9,376,000 after acquiring an additional 8,723 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in shares of RB Global in the fourth quarter worth about $27,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Wall Street Analysts Forecast Growth

RBA has been the subject of a number of research analyst reports. CIBC lowered their price objective on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a research report on Monday, February 3rd. StockNews.com cut RB Global from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Raymond James boosted their price objective on RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Robert W. Baird increased 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, National Bankshares reduced their price target on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $111.36.

RB Global Trading Up 0.5 %

Shares of RBA traded up $0.47 during mid-day trading on Tuesday, reaching $101.95. 1,245,710 shares of the company were exchanged, compared to its average volume of 1,096,699. The business has a 50 day simple moving average of $98.18 and a two-hundred day simple moving average of $94.47. RB Global, Inc. has a 52 week low of $70.27 and a 52 week high of $106.90. The stock has a market capitalization of $18.88 billion, a PE ratio of 50.72, a PEG ratio of 4.95 and a beta of 0.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 EPS 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 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 prior year, the company posted $0.82 earnings per share. On average, analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 15,700 shares of RB Global 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 in the company, valued at $10,521,323.89. The trade was a 12.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO James J. Jeter sold 7,597 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the transaction, the executive now directly owns 20,267 shares in the company, valued at approximately $1,983,125.95. This represents a 27.26 % 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 valued at $2,338,161. Corporate insiders own 4.32% of the company's stock.

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.