14,738 Shares in RB Global, Inc. (NYSE:RBA) Bought by Crestline Management LP

Crestline Management LP purchased a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 14,738 shares of the business services provider’s stock, valued at approximately $1,330,000.

Several other hedge funds have also bought and sold shares of the stock. Natixis Advisors LLC increased its holdings in shares of RB Global by 69.5% in the fourth quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider’s stock worth $1,703,000 after purchasing an additional 7,737 shares during the last quarter. Mawer Investment Management Ltd. increased its stake in RB Global by 15.7% in the 4th quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider’s stock worth $10,876,000 after acquiring an additional 16,397 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of RB Global by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock worth $2,248,060,000 after acquiring an additional 358,752 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of RB Global by 9.2% during the 4th quarter. MetLife Investment Management LLC now owns 103,934 shares of the business services provider’s stock valued at $9,376,000 after acquiring an additional 8,723 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of RB Global by 16.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 100,318 shares of the business services provider’s stock valued at $9,050,000 after purchasing an additional 13,836 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insiders Place Their Bets

In other RB Global news, CRO James J. Jeter sold 7,597 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.85, for a total transaction of $743,366.45. Following the transaction, the executive now directly owns 20,267 shares in the company, valued at $1,983,125.95. This represents a 27.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the sale, the chief executive officer now owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,897 shares of company stock worth $2,338,161 in the last ninety days. 4.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RBA has been the subject of several research reports. BMO Capital Markets increased their price objective on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. National Bankshares dropped their price target on RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. CIBC reduced their price objective on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. StockNews.com lowered RB Global from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Finally, Royal Bank of Canada boosted their target price on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $113.07.

RB Global Price Performance

Shares of RBA stock opened at $104.88 on Friday. The stock has a 50 day moving average price of $98.23 and a 200 day moving average price of $94.66. RB Global, Inc. has a 52-week low of $70.27 and a 52-week high of $106.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The firm has a market capitalization of $19.42 billion, a P/E ratio of 52.18, a P/E/G ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm earned $0.90 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, sell-side analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

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.