RB Global, Inc. (NYSE:RBA) Shares Sold by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust cut its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,399 shares of the business services provider’s stock after selling 316 shares during the period. Parkside Financial Bank & Trust’s holdings in RB Global were worth $227,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of RBA. Headlands Technologies LLC purchased a new position in RB Global in the third quarter valued at approximately $26,000. Cary Street Partners Investment Advisory LLC purchased a new position in RB Global in the third quarter valued at approximately $26,000. Oakworth Capital Inc. raised its holdings in RB Global by 53.3% in the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after buying an additional 162 shares during the period. WASHINGTON TRUST Co purchased a new position in RB Global in the third quarter valued at approximately $56,000. Finally, Ronald Blue Trust Inc. raised its holdings in RB Global by 139.1% in the third quarter. Ronald Blue Trust Inc. now owns 947 shares of the business services provider’s stock valued at $57,000 after buying an additional 551 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Scotiabank lifted their price objective on shares of RB Global from $76.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Monday, February 26th. Raymond James lifted their price objective on shares of RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. StockNews.com upgraded shares of RB Global from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Royal Bank of Canada lifted their price objective on shares of RB Global from $75.00 to $93.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.80.

RB Global Price Performance

RBA stock traded down $0.53 during trading on Wednesday, hitting $72.71. The company had a trading volume of 201,929 shares, compared to its average volume of 809,020. The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of 86.15, a P/E/G ratio of 5.48 and a beta of 0.87. The business has a 50 day moving average of $74.20 and a 200 day moving average of $67.95. RB Global, Inc. has a fifty-two week low of $51.07 and a fifty-two week high of $77.99. The company has a current ratio of 1.35, a quick ratio of 1.23 and a debt-to-equity ratio of 0.61.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Friday, February 23rd. The business services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.14. RB Global had a net margin of 5.61% and a return on equity of 4.19%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 134.5% compared to the same quarter last year. As a group, research analysts predict 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 1,100 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total value of $84,755.00. Following the sale, the insider now directly owns 21,103 shares in the company, valued at $1,625,986.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CRO James J. Jeter sold 11,416 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $76.32, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Darren Jeffrey Watt sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total value of $84,755.00. Following the completion of the sale, the insider now directly owns 21,103 shares of the company’s stock, valued at approximately $1,625,986.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,816 shares of company stock worth $1,133,055. 4.10% of the stock is owned by corporate insiders.

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.