RB Global, Inc. (NYSE:RBA) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lowered its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 103,614 shares of the business services provider’s stock after selling 3,513 shares during the quarter. Marks Group Wealth Management Inc owned about 0.06% of RB Global worth $8,340,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of RBA. Mawer Investment Management Ltd. lifted its position in shares of RB Global by 83.4% during the first quarter. Mawer Investment Management Ltd. now owns 104,398 shares of the business services provider’s stock worth $7,952,000 after purchasing an additional 47,474 shares in the last quarter. Duality Advisers LP purchased a new position in RB Global in the 1st quarter valued at about $842,000. SG Americas Securities LLC grew its stake in shares of RB Global by 365.3% during the first quarter. SG Americas Securities LLC now owns 18,069 shares of the business services provider’s stock valued at $1,376,000 after acquiring an additional 14,186 shares in the last quarter. Tectonic Advisors LLC grew its stake in shares of RB Global by 7.2% during the first quarter. Tectonic Advisors LLC now owns 88,309 shares of the business services provider’s stock valued at $6,726,000 after acquiring an additional 5,966 shares in the last quarter. Finally, Orion Portfolio Solutions LLC increased its position in shares of RB Global by 4.9% during the first quarter. Orion Portfolio Solutions LLC now owns 15,359 shares of the business services provider’s stock worth $1,170,000 after acquiring an additional 713 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $83.09, for a total value of $1,485,898.47. Following the sale, the chief executive officer now directly owns 86,247 shares in the company, valued at approximately $7,166,263.23. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CRO James J. Jeter sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive now directly owns 20,267 shares in the company, valued at $1,733,841.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction on Monday, September 9th. The shares were sold at an average price of $83.09, for a total value of $1,485,898.47. Following the sale, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,166,263.23. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,601 shares of company stock worth $3,720,043 in the last three months. 4.10% of the stock is owned by insiders.

RB Global Price Performance

Shares of NYSE:RBA opened at $86.62 on Wednesday. The company has a market cap of $15.97 billion, a PE ratio of 48.66, a P/E/G ratio of 5.55 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 $87.45. The firm has a 50-day simple moving average of $83.38 and a 200 day simple moving average of $79.41. 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 announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the firm earned $0.42 EPS. The business’s quarterly revenue was down .9% on a year-over-year basis. On average, sell-side analysts anticipate that RB Global, Inc. will post 1.92 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Robert W. Baird increased their price target on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. BMO Capital Markets initiated coverage on shares of RB Global in a research report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price target for the company. Raymond James increased their price objective 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. Royal Bank of Canada raised their price objective on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Bank of America increased their price target on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.19.

RB Global 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.