Harvest Portfolios Group Inc. Decreases Holdings in RB Global, Inc. (NYSE:RBA)

Harvest Portfolios Group Inc. trimmed its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in RBA. Vanguard Group Inc. boosted its position in RB Global by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock worth $1,827,528,000 after purchasing an additional 1,153,497 shares during the period. Bank of New York Mellon Corp boosted its position in RB Global by 142.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock valued at $102,154,000 after buying an additional 787,042 shares during the last quarter. CIBC Asset Management Inc boosted its position in RB Global by 1,879.0% in the 2nd quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock valued at $47,761,000 after buying an additional 594,941 shares during the last quarter. Principal Financial Group Inc. boosted its position in RB Global by 3,387.9% in the 2nd quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock valued at $46,712,000 after buying an additional 594,199 shares during the last quarter. Finally, Retirement Systems of Alabama purchased a new position in RB Global in the 2nd quarter valued at about $21,724,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the sale, the chief executive officer now owns 86,247 shares in the company, valued at $7,166,263.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other RB Global news, CRO James J. Jeter sold 2,920 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total value of $230,563.20. Following the completion of the transaction, the executive now owns 23,267 shares in the company, valued at approximately $1,837,162.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the completion of the transaction, the chief executive officer now owns 86,247 shares of the company’s stock, valued at approximately $7,166,263.23. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,601 shares of company stock worth $3,720,043 over the last quarter. 4.32% of the stock is owned by company insiders.

RB Global Price Performance

RBA opened at $89.34 on Friday. The firm has a market cap of $16.48 billion, a price-to-earnings ratio of 50.19, a price-to-earnings-growth ratio of 5.57 and a beta of 0.92. RB Global, Inc. has a fifty-two week low of $58.85 and a fifty-two week high of $89.91. The company’s 50-day moving average price is $83.54 and its 200 day moving average price is $79.55. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.06. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. RB Global’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. As a group, sell-side analysts expect that RB Global, Inc. will post 1.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RBA shares. Royal Bank of Canada upped their price objective on shares of RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Bank of America upped their price objective on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Robert W. Baird upped their price objective 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 began coverage on shares of RB Global in a research note on Thursday, September 5th. They issued an “outperform” rating and a $105.00 target price on the stock. Finally, Raymond James upped their target price on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, RB Global has an average rating of “Moderate Buy” and an average target price of $92.19.

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.