RB Global, Inc. (NYSE:RBA) Stake Lessened by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. cut its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,500 shares of the business services provider’s stock after selling 300 shares during the period. Harvest Portfolios Group Inc.’s holdings in RB Global were worth $282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RBA. Vanguard Group Inc. boosted its holdings in shares of RB Global by 5.1% in the first quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock valued at $1,827,528,000 after acquiring an additional 1,153,497 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in RB Global by 142.9% during the second quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock worth $102,154,000 after buying an additional 787,042 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in RB Global by 1,879.0% during the second quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock worth $47,761,000 after buying an additional 594,941 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in RB Global by 3,387.9% during the second quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock worth $46,712,000 after buying an additional 594,199 shares in the last quarter. Finally, Retirement Systems of Alabama bought a new stake in RB Global during the second quarter worth approximately $21,724,000. 95.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RBA shares. Bank of America raised their target price on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th. Royal Bank of Canada raised their target price on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Robert W. Baird upped their price target on shares of RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. BMO Capital Markets assumed coverage on shares of RB Global in a research report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price target for the company. Finally, Raymond James upped their price target on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.19.

RB Global Stock Down 0.0 %

RBA stock opened at $89.34 on Friday. RB Global, Inc. has a 12-month low of $58.85 and a 12-month high of $89.91. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. The company has a market cap of $16.48 billion, a price-to-earnings ratio of 50.19, a PEG ratio of 5.57 and a beta of 0.92. The company has a 50 day moving average of $83.54 and a two-hundred day moving average of $79.55.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s revenue was down .9% compared to the same quarter last year. On average, equities analysts anticipate that RB Global, Inc. will post 1.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the transaction, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,261,134.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the transaction, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,261,134.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO James J. Jeter sold 3,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total transaction of $256,650.00. Following the transaction, the executive now owns 20,267 shares in the company, valued at $1,733,841.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,601 shares of company stock worth $3,720,043 in the last quarter. 4.32% of the stock is currently owned by corporate 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.