RB Global, Inc. $RBA Stock Acquired by QV Investors Inc.

QV Investors Inc. increased its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 33.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 390,069 shares of the business services provider’s stock after buying an additional 97,697 shares during the period. RB Global accounts for 2.3% of QV Investors Inc.’s portfolio, making the stock its 18th largest holding. QV Investors Inc. owned 0.22% of RB Global worth $31,846,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RBA. BlackRock Inc. acquired a new stake in RB Global in the second quarter valued at approximately $1,816,059,000. EdgePoint Investment Group Inc. increased its stake in shares of RB Global by 14.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock worth $845,337,000 after purchasing an additional 1,111,217 shares during the last quarter. Royal Bank of Canada increased its stake in shares of RB Global by 13.1% during the 1st quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider’s stock worth $483,432,000 after purchasing an additional 585,617 shares during the last quarter. Jupiter Topco LLC acquired a new position in shares of RB Global during the 2nd quarter worth $514,871,000. Finally, Janus Henderson Group PLC raised its holdings in shares of RB Global by 7.0% during the 1st quarter. Janus Henderson Group PLC now owns 4,371,610 shares of the business services provider’s stock valued at $418,876,000 after purchasing an additional 285,713 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

RBA has been the subject of several analyst reports. Zacks Research lowered shares of RB Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Raymond James Financial upgraded RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 target price on the stock in a report on Tuesday, June 30th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $152.00 price target on shares of RB Global in a research note on Wednesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.29.

Insider Activity

In other news, Director Deborah Stein purchased 500 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was purchased at an average price of $80.91 per share, with a total value of $40,455.00. Following the acquisition, the director directly owned 2,325 shares in the company, valued at approximately $188,115.75. The trade was a 27.40% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Chloe Harford acquired 1,200 shares of RB Global stock in a transaction on Monday, August 24th. The stock was purchased at an average price of $83.74 per share, with a total value of $100,488.00. Following the transaction, the director directly owned 1,200 shares in the company, valued at approximately $100,488. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.57% of the stock is currently owned by company insiders.

RB Global Trading Up 1.4%

Shares of RB Global stock opened at $80.91 on Wednesday. RB Global, Inc. has a 1 year low of $78.05 and a 1 year high of $119.33. The company’s fifty day simple moving average is $83.88 and its 200-day simple moving average is $98.49. The company has a market cap of $14.67 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 1.36 and a beta of 0.53. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. RB Global had a net margin of 9.99% and a return on equity of 12.37%. As a group, sell-side analysts expect that RB Global, Inc. will post 4.06 EPS for the current year.

RB Global Company Profile

RB Global, Inc is a global marketplace and provider of asset management and disposition services for commercial and industrial equipment, vehicles and other durable assets. The company connects buyers and sellers through live and online auctions, negotiated sales and digital marketplaces, serving industries such as construction, transportation, agriculture, energy, government and automotive.

Its portfolio includes Ritchie Bros., a major auction and marketplace brand for heavy equipment; IAA, which specializes in salvage and repairable vehicle auctions; and Mascus, an online marketplace for used equipment.