OLD National Bancorp IN Sells 1,013 Shares of RB Global, Inc. (NYSE:RBA)

OLD National Bancorp IN reduced its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 16.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,109 shares of the business services provider’s stock after selling 1,013 shares during the period. OLD National Bancorp IN’s holdings in RB Global were worth $342,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RBA. Vanguard Group Inc. boosted its holdings in shares of RB Global by 144.9% during the 3rd quarter. Vanguard Group Inc. now owns 22,647,288 shares of the business services provider’s stock worth $1,415,456,000 after buying an additional 13,400,942 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of RB Global by 10.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,320,114 shares of the business services provider’s stock worth $645,007,000 after buying an additional 977,171 shares during the period. Canoe Financial LP bought a new stake in shares of RB Global during the 3rd quarter worth $56,967,000. Legal & General Group Plc bought a new stake in shares of RB Global during the 3rd quarter worth $49,791,000. Finally, Cidel Asset Management Inc. boosted its holdings in shares of RB Global by 50.4% during the 3rd quarter. Cidel Asset Management Inc. now owns 1,375,673 shares of the business services provider’s stock worth $86,528,000 after buying an additional 460,858 shares during the period. 95.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RBA has been the subject of a number of research reports. Royal Bank of Canada increased their price target on shares of RB Global from $75.00 to $93.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Scotiabank increased their price target on shares of RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a report on Wednesday. StockNews.com raised shares of RB Global from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Finally, Raymond James increased their price target on shares of RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, February 26th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

RB Global Price Performance

NYSE:RBA opened at $73.37 on Thursday. The company has a 50-day moving average of $74.33 and a 200-day moving average of $68.01. The company has a market capitalization of $13.41 billion, a price-to-earnings ratio of 86.32, a PEG ratio of 5.51 and a beta of 0.87. RB Global, Inc. has a 52 week low of $51.07 and a 52 week high of $77.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.23 and a current ratio of 1.35.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. RB Global had a net margin of 5.61% and a return on equity of 4.19%. The firm’s revenue for the quarter was up 134.5% on a year-over-year basis. During the same quarter last year, the company posted $0.40 EPS. As a group, equities research analysts anticipate that RB Global, Inc. will post 1.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Darren Jeffrey Watt sold 1,100 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the sale, the insider now owns 21,103 shares in the company, valued at approximately $1,625,986.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Darren Jeffrey Watt sold 1,100 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the sale, the insider now owns 21,103 shares in the company, valued at approximately $1,625,986.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO James J. Jeter sold 11,416 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $76.32, for a total transaction of $871,269.12. Following the sale, the executive now owns 30,915 shares of the company’s stock, valued at approximately $2,359,432.80. The disclosure for this sale can be found here. Insiders sold 14,816 shares of company stock worth $1,133,055 in the last quarter. 4.32% of the stock is owned by corporate insiders.

RB Global Company 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.