TD Waterhouse Canada Inc. Cuts Position in RB Global, Inc. (NYSE:RBA)

TD Waterhouse Canada Inc. reduced its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,746 shares of the business services provider’s stock after selling 932 shares during the period. TD Waterhouse Canada Inc. owned about 0.07% of RB Global worth $10,882,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of RBA. Central Pacific Bank Trust Division purchased a new position in RB Global during the 4th quarter valued at about $27,000. Versant Capital Management Inc increased its stake in RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after buying an additional 176 shares during the period. Jones Financial Companies Lllp lifted its holdings in RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after buying an additional 129 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of RB Global in the fourth quarter worth $36,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of RB Global during the fourth quarter worth $37,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other RB Global news, CRO James J. Jeter sold 7,597 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the completion of the sale, the executive now directly owns 20,267 shares of the company’s stock, valued at $1,983,125.95. This represents a 27.26 % decrease in their position. The transaction 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 RB Global stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the transaction, the chief executive officer now owns 107,569 shares in the company, valued at $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,897 shares of company stock valued at $2,338,161. Insiders own 4.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Robert W. Baird upped their price target on RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. StockNews.com cut shares of RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Royal Bank of Canada lifted their price objective on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. CIBC cut their price target 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. Finally, Raymond James increased their price objective on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $108.56.

RB Global Trading Down 2.3 %

NYSE:RBA opened at $95.10 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a 52-week low of $69.83 and a 52-week high of $106.90. The stock’s 50 day moving average price is $98.24 and its 200 day moving average price is $93.08. The company has a market capitalization of $17.58 billion, a PE ratio of 47.31, a P/E/G ratio of 4.95 and a beta of 0.90.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period in the previous year, the firm earned $0.82 earnings per share. On average, research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

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.