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

Marks Group Wealth Management Inc lowered its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 107,715 shares of the business services provider’s stock after selling 1,004 shares during the quarter. Marks Group Wealth Management Inc owned about 0.06% of RB Global worth $7,205,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RBA. Vanguard Group Inc. raised its holdings in shares of RB Global by 144.9% during 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 buying an additional 13,400,942 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of RB Global by 10.5% during the third 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 boosted its holdings in RB Global by 3.6% in the fourth quarter. Cooke & Bieler LP now owns 3,627,957 shares of the business services provider’s stock worth $242,674,000 after acquiring an additional 124,815 shares in the last quarter. Fiera Capital Corp boosted its holdings in RB Global by 4.5% in the third quarter. Fiera Capital Corp now owns 2,614,152 shares of the business services provider’s stock worth $164,125,000 after acquiring an additional 113,514 shares in the last quarter. Finally, Cidel Asset Management Inc. lifted its holdings in shares of 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 valued at $86,528,000 after purchasing an additional 460,858 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insiders Place Their Bets

In related news, 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 transaction of $84,755.00. Following the transaction, the insider now directly owns 21,103 shares in the company, valued at approximately $1,625,986.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CRO James J. Jeter sold 11,416 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $76.32, for a total value of $871,269.12. Following the sale, the executive now owns 30,915 shares in the company, valued at $2,359,432.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Darren Jeffrey Watt sold 1,100 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was 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 owns 21,103 shares in the company, valued at approximately $1,625,986.15. The disclosure for this sale can be found here. Insiders have sold 14,816 shares of company stock worth $1,133,055 in the last ninety days. 4.10% of the stock is owned by company insiders.

RB Global Price Performance

NYSE:RBA opened at $73.23 on Wednesday. The firm has a market capitalization of $13.38 billion, a price-to-earnings ratio of 86.15, a PEG ratio of 5.48 and a beta of 0.87. RB Global, Inc. has a 1 year low of $51.07 and a 1 year high of $77.99. The business has a 50 day simple moving average of $74.20 and a 200-day simple moving average of $67.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.35 and a quick ratio of 1.23.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Friday, February 23rd. The business services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.68 by $0.14. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate 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 period last year, the business posted $0.40 EPS. Equities analysts forecast that RB Global, Inc. will post 1.9 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. Scotiabank upped their price target on RB Global from $76.00 to $88.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 26th. StockNews.com raised RB Global from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Royal Bank of Canada increased their price target on RB Global from $75.00 to $93.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Finally, Raymond James increased their price target on RB Global from $78.00 to $90.00 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.80.

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.