Price T Rowe Associates Inc. MD Sells 107,266 Shares of RB Global, Inc. (NYSE:RBA)

Price T Rowe Associates Inc. MD lowered its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 36.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 188,029 shares of the business services provider's stock after selling 107,266 shares during the period. Price T Rowe Associates Inc. MD owned 0.10% of RB Global worth $16,963,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of RB Global during the fourth quarter worth $266,148,000. Norges Bank acquired a new stake in RB Global in the 4th quarter worth about $209,931,000. FMR LLC boosted its holdings in RB Global by 137.5% in the 4th quarter. FMR LLC now owns 2,804,404 shares of the business services provider's stock valued at $252,985,000 after purchasing an additional 1,623,429 shares during the period. Vontobel Holding Ltd. grew its position in shares of RB Global by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock worth $762,378,000 after purchasing an additional 753,700 shares in the last quarter. Finally, FIL Ltd raised its position in shares of RB Global by 26.4% in the fourth quarter. FIL Ltd now owns 2,030,696 shares of the business services provider's stock valued at $183,189,000 after buying an additional 424,060 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

RB Global Trading Down 0.9 %

Shares of NYSE RBA traded down $0.96 during trading on Monday, reaching $101.55. The company had a trading volume of 786,665 shares, compared to its average volume of 1,096,737. RB Global, Inc. has a 12 month low of $69.83 and a 12 month high of $106.90. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The stock has a market cap of $18.80 billion, a P/E ratio of 50.52, a PEG ratio of 4.95 and a beta of 0.90. The company's fifty day moving average price is $98.13 and its 200-day moving average price is $94.28.

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

Insider Buying and Selling at RB Global

In related news, CRO James J. Jeter sold 600 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $98.63, for a total transaction of $59,178.00. Following the transaction, the executive now directly owns 19,667 shares of the company's stock, valued at $1,939,756.21. This represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the firm's stock in a transaction 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 sale, the chief executive officer now owns 107,569 shares of the company's stock, valued at $10,521,323.89. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,897 shares of company stock valued at $2,338,161. 4.32% of the stock is currently owned by 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.