Marks Group Wealth Management Inc Decreases Stake in RB Global, Inc. (NYSE:RBA)

Marks Group Wealth Management Inc reduced its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 107,715 shares of the business services provider’s stock after selling 1,004 shares during the period. Marks Group Wealth Management Inc’s holdings in RB Global were worth $7,205,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of RB Global by 144.9% in the 3rd quarter. Vanguard Group Inc. now owns 22,647,288 shares of the business services provider’s stock valued at $1,415,456,000 after purchasing an additional 13,400,942 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of RB Global by 10.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,320,114 shares of the business services provider’s stock valued at $645,007,000 after purchasing an additional 977,171 shares in the last quarter. Cooke & Bieler LP raised its stake in shares of RB Global by 3.6% in the 4th quarter. Cooke & Bieler LP now owns 3,627,957 shares of the business services provider’s stock valued at $242,674,000 after purchasing an additional 124,815 shares in the last quarter. Fiera Capital Corp raised its stake in shares of RB Global by 4.5% in the 3rd quarter. Fiera Capital Corp now owns 2,614,152 shares of the business services provider’s stock valued at $164,125,000 after purchasing an additional 113,514 shares in the last quarter. Finally, Cidel Asset Management Inc. raised its stake in RB Global by 50.4% during the third quarter. Cidel Asset Management Inc. now owns 1,375,673 shares of the business services provider’s stock worth $86,528,000 after acquiring an additional 460,858 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RBA. Scotiabank increased their price objective on shares of RB Global from $76.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 26th. Royal Bank of Canada raised their target price on shares of RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. StockNews.com upgraded shares of RB Global from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Finally, Raymond James raised their target price on shares of RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, RB Global presently has an average rating of “Moderate Buy” and a consensus price target of $82.80.

RB Global Stock Up 0.6 %

Shares of NYSE:RBA opened at $73.23 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.23 and a current ratio of 1.35. The company has a market cap of $13.38 billion, a PE ratio of 86.15, a price-to-earnings-growth ratio of 5.48 and a beta of 0.87. RB Global, Inc. has a 52 week low of $51.07 and a 52 week high of $77.99. The firm has a 50 day simple moving average of $74.20 and a 200 day simple moving average of $67.95.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Friday, February 23rd. The business services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.68 by $0.14. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.04 billion. RB Global had a net margin of 5.61% and a return on equity of 4.19%. The firm’s quarterly revenue was up 134.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. As a group, research analysts expect that RB Global, Inc. will post 1.9 earnings per share for the current year.

Insiders Place Their Bets

In other RB Global news, insider Darren Jeffrey Watt sold 2,300 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $76.97, for a total value of $177,031.00. Following the completion of the sale, the insider now owns 21,103 shares in the company, valued at approximately $1,624,297.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other RB Global news, insider Darren Jeffrey Watt sold 2,300 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $76.97, for a total value of $177,031.00. Following the completion of the sale, the insider now owns 21,103 shares in the company, valued at approximately $1,624,297.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO James J. Jeter sold 11,416 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $76.32, for a total transaction of $871,269.12. Following the completion of the sale, the executive now owns 30,915 shares of the company’s stock, valued at approximately $2,359,432.80. The disclosure for this sale can be found here. Insiders sold a total of 14,816 shares of company stock worth $1,133,055 in the last quarter. 4.10% of the stock is currently owned by corporate insiders.

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.