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

New York State Common Retirement Fund trimmed its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 17.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 417,747 shares of the business services provider’s stock after selling 89,633 shares during the quarter. New York State Common Retirement Fund’s holdings in RB Global were worth $27,943,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Oakworth Capital Inc. increased its holdings in shares of RB Global by 53.3% during the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 162 shares in the last quarter. Signaturefd LLC increased its holdings in shares of RB Global by 11.0% during the fourth quarter. Signaturefd LLC now owns 1,917 shares of the business services provider’s stock valued at $128,000 after acquiring an additional 190 shares in the last quarter. Claret Asset Management Corp increased its holdings in shares of RB Global by 1.7% during the third quarter. Claret Asset Management Corp now owns 14,217 shares of the business services provider’s stock valued at $889,000 after acquiring an additional 238 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of RB Global by 0.3% during the third quarter. State Board of Administration of Florida Retirement System now owns 103,115 shares of the business services provider’s stock valued at $6,445,000 after acquiring an additional 280 shares in the last quarter. Finally, Mutual Advisors LLC increased its holdings in shares of RB Global by 6.9% during the fourth quarter. Mutual Advisors LLC now owns 4,786 shares of the business services provider’s stock valued at $320,000 after acquiring an additional 309 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on RBA. Royal Bank of Canada upped their price objective 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. Raymond James raised their price objective on RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, February 26th. StockNews.com upgraded RB Global from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Finally, Scotiabank raised their price objective on RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

RB Global Stock Down 0.2 %

Shares of RBA opened at $73.16 on Friday. RB Global, Inc. has a 52-week low of $51.07 and a 52-week high of $77.99. The company has a market capitalization of $13.37 billion, a PE ratio of 86.07, a price-to-earnings-growth ratio of 5.51 and a beta of 0.87. The stock has a fifty day simple moving average of $74.51 and a two-hundred day simple moving average of $68.08. The company has a quick ratio of 1.23, a current ratio of 1.35 and a debt-to-equity ratio of 0.61.

RB Global (NYSE:RBA) (TSE:RBA) last issued 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. RB Global had a return on equity of 4.19% and a net margin of 5.61%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the company earned $0.40 EPS. The company’s revenue for the quarter was up 134.5% on a year-over-year basis. As a group, equities analysts forecast that RB Global, Inc. will post 1.9 EPS for the current year.

Insider Buying and Selling

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