New York State Common Retirement Fund Reduces Stock Position in RB Global, Inc. (NYSE:RBA)

New York State Common Retirement Fund cut its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 27.0% in the third quarter, Holdings Channel.com reports. The firm owned 253,982 shares of the business services provider’s stock after selling 93,796 shares during the quarter. New York State Common Retirement Fund’s holdings in RB Global were worth $20,443,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Mawer Investment Management Ltd. lifted its holdings in RB Global by 83.4% in the first quarter. Mawer Investment Management Ltd. now owns 104,398 shares of the business services provider’s stock valued at $7,952,000 after acquiring an additional 47,474 shares during the last quarter. Duality Advisers LP acquired a new position in RB Global in the first quarter valued at approximately $842,000. SG Americas Securities LLC lifted its holdings in RB Global by 365.3% in the first quarter. SG Americas Securities LLC now owns 18,069 shares of the business services provider’s stock valued at $1,376,000 after acquiring an additional 14,186 shares during the last quarter. Tectonic Advisors LLC lifted its holdings in RB Global by 7.2% in the first quarter. Tectonic Advisors LLC now owns 88,309 shares of the business services provider’s stock valued at $6,726,000 after acquiring an additional 5,966 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its holdings in RB Global by 4.9% in the first quarter. Orion Portfolio Solutions LLC now owns 15,359 shares of the business services provider’s stock valued at $1,170,000 after acquiring an additional 713 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RB Global

In related news, CRO James J. Jeter sold 2,920 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total value of $230,563.20. Following the transaction, the executive now owns 23,267 shares in the company, valued at $1,837,162.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CRO James J. Jeter sold 2,920 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total value of $230,563.20. Following the transaction, the executive now owns 23,267 shares in the company, valued at $1,837,162.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Darren Jeffrey Watt sold 2,915 shares of RB Global stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the sale, the insider now directly owns 19,271 shares in the company, valued at $1,595,638.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,601 shares of company stock worth $3,720,043 in the last quarter. Company insiders own 4.32% of the company’s stock.

Wall Street Analysts Forecast Growth

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

RB Global Stock Performance

Shares of RBA stock opened at $85.40 on Tuesday. The stock’s 50-day moving average is $83.41 and its two-hundred day moving average is $79.22. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 47.98, a PEG ratio of 5.52 and a beta of 0.92. RB Global, Inc. has a 1 year low of $58.85 and a 1 year high of $87.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.06. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. Analysts predict that RB Global, Inc. will post 1.92 earnings per share for the current year.

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.