Cigna Investments Inc. New Sells 192 Shares of RB Global, Inc. (NYSE:RBA)

Cigna Investments Inc. New lessened its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,248 shares of the business services provider’s stock after selling 192 shares during the period. Cigna Investments Inc. New’s holdings in RB Global were worth $262,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Hollencrest Capital Management acquired a new position in shares of RB Global during the first quarter worth about $33,000. Massmutual Trust Co. FSB ADV lifted its stake in RB Global by 58.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 165 shares in the last quarter. UMB Bank n.a. boosted its position in RB Global by 196.0% during the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after acquiring an additional 388 shares during the last quarter. Quarry LP bought a new position in shares of RB Global during the 2nd quarter worth approximately $53,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of RB Global by 33.5% in the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Performance

Shares of NYSE RBA opened at $85.12 on Friday. RB Global, Inc. has a 12 month low of $58.85 and a 12 month high of $87.45. The stock has a 50 day moving average of $83.43 and a 200-day moving average of $79.05. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $15.70 billion, a P/E ratio of 47.82, a P/E/G ratio of 5.62 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 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 the consensus estimate of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share. As a group, equities research analysts predict that RB Global, Inc. will post 1.92 EPS for the current year.

Insider Activity at RB Global

In other RB Global news, CRO James J. Jeter sold 2,920 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the sale, the executive now directly owns 23,267 shares in the company, valued at $1,837,162.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other RB Global news, CRO James J. Jeter sold 3,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.55, for a total value of $256,650.00. Following the transaction, the executive now directly owns 20,267 shares of the company’s stock, valued at $1,733,841.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO James J. Jeter sold 2,920 shares of the stock in a transaction on 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,601 shares of company stock worth $3,720,043. Insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on RBA shares. BMO Capital Markets initiated coverage on shares of RB Global in a report on Thursday, September 5th. They set an “outperform” rating and a $105.00 target price for the company. Raymond James increased their price objective on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Royal Bank of Canada lifted their target price on 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 increased their price target on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, Robert W. Baird boosted their price target on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.19.

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.