M&T Bank Corp Sells 646 Shares of RB Global, Inc. (NYSE:RBA)

M&T Bank Corp reduced its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,010 shares of the business services provider’s stock after selling 646 shares during the period. M&T Bank Corp’s holdings in RB Global were worth $3,078,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RBA. Mariner LLC raised its position in shares of RB Global by 3.6% during the 3rd quarter. Mariner LLC now owns 27,567 shares of the business services provider’s stock valued at $1,723,000 after buying an additional 946 shares in the last quarter. Triasima Portfolio Management inc. raised its position in RB Global by 1,152.4% during the fourth quarter. Triasima Portfolio Management inc. now owns 193,118 shares of the business services provider’s stock valued at $12,947,000 after purchasing an additional 177,698 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of RB Global by 487.6% in the 4th quarter. Vontobel Holding Ltd. now owns 158,329 shares of the business services provider’s stock valued at $10,591,000 after purchasing an additional 131,383 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings 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 worth $645,007,000 after purchasing an additional 977,171 shares during the period. Finally, FMR LLC boosted its holdings in shares of RB Global by 49.2% in the 3rd quarter. FMR LLC now owns 42,443 shares of the business services provider’s stock worth $2,656,000 after purchasing an additional 13,987 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Buying and Selling at RB Global

In related news, insider Darren Jeffrey Watt sold 1,100 shares of RB Global stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total transaction of $84,755.00. Following the transaction, the insider now directly owns 21,103 shares of the company’s stock, valued at $1,625,986.15. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CRO James J. Jeter sold 11,416 shares of the stock in a transaction 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 in the company, valued at approximately $2,359,432.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Darren Jeffrey Watt sold 1,100 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total value of $84,755.00. Following the transaction, the insider now owns 21,103 shares in the company, valued at $1,625,986.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,816 shares of company stock valued at $1,133,055. Company insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

RBA has been the subject of a number of analyst reports. Royal Bank of Canada raised their price target on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research report on Monday, February 26th. Raymond James lifted their price target on shares of RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. StockNews.com raised shares of RB Global from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Scotiabank upped their target price on RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

RB Global Trading Up 1.5 %

Shares of RBA opened at $71.88 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.35 and a quick ratio of 1.23. The firm has a market capitalization of $13.14 billion, a price-to-earnings ratio of 84.56, a PEG ratio of 5.43 and a beta of 0.88. The company has a 50-day moving average of $74.60 and a 200 day moving average of $68.44. RB Global, Inc. has a 1-year low of $51.07 and a 1-year high of $77.99.

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

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.