Kampmann Melissa S. decreased its holdings in shares of RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA) by 55.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,685 shares of the business services provider’s stock after selling 13,217 shares during the quarter. Kampmann Melissa S.’s holdings in RB Global were worth $870,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of RB Global in the 2nd quarter worth $1,816,059,000. EdgePoint Investment Group Inc. increased its holdings in shares of RB Global by 14.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock worth $845,337,000 after buying an additional 1,111,217 shares during the last quarter. Jupiter Topco LLC bought a new stake in shares of RB Global in the 2nd quarter worth about $514,871,000. Royal Bank of Canada raised its position in shares of RB Global by 13.1% during the 1st quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider’s stock valued at $483,432,000 after buying an additional 585,617 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of RB Global by 7.0% during the 1st quarter. Janus Henderson Group PLC now owns 4,371,610 shares of the business services provider’s stock valued at $418,876,000 after buying an additional 285,713 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.
Analyst Ratings Changes
RBA has been the topic of a number of recent research reports. Barclays decreased their price objective on RB Global from $121.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 6th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $152.00 target price on shares of RB Global in a report on Wednesday, September 23rd. Weiss Ratings downgraded RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 18th. National Bank Financial boosted their target price on RB Global from $130.00 to $132.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. Finally, Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.29.
RB Global Price Performance
Shares of RBA stock opened at $89.66 on Friday. RB Global, Inc. has a 52-week low of $78.05 and a 52-week high of $119.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. The firm has a market capitalization of $16.25 billion, a P/E ratio of 38.48, a P/E/G ratio of 1.51 and a beta of 0.53. The stock has a 50 day moving average price of $83.89 and a 200 day moving average price of $99.86.
RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last posted its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. As a group, sell-side analysts predict that RB Global, Inc. will post 4.06 earnings per share for the current year.
RB Global announced that its board has initiated a stock repurchase plan on Tuesday, September 15th that authorizes the company to repurchase $500 million in shares. This repurchase authorization authorizes the business services provider to reacquire up to 3.3% of its stock through open market purchases. Share repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
Insiders Place Their Bets
In other RB Global news, Director Chloe Harford bought 1,200 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was acquired at an average cost of $83.74 per share, for a total transaction of $100,488.00. Following the completion of the transaction, the director owned 1,200 shares in the company, valued at $100,488. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deborah Stein bought 500 shares of the stock in a transaction dated Wednesday, September 9th. The shares were bought at an average cost of $80.91 per share, with a total value of $40,455.00. Following the completion of the purchase, the director directly owned 2,325 shares of the company’s stock, valued at approximately $188,115.75. This trade represents a 27.40% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.57% of the company’s stock.
RB Global Profile
RB Global, Inc is a global marketplace and provider of asset management and disposition services for commercial and industrial equipment, vehicles and other durable assets. The company connects buyers and sellers through live and online auctions, negotiated sales and digital marketplaces, serving industries such as construction, transportation, agriculture, energy, government and automotive.
Its portfolio includes Ritchie Bros., a major auction and marketplace brand for heavy equipment; IAA, which specializes in salvage and repairable vehicle auctions; and Mascus, an online marketplace for used equipment.
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