RB Global, Inc. $RBA Shares Sold by Cooke & Bieler LP

Cooke & Bieler LP lowered its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,431,967 shares of the business services provider’s stock after selling 47,918 shares during the quarter. RB Global accounts for 2.9% of Cooke & Bieler LP’s investment portfolio, making the stock its 3rd largest holding. Cooke & Bieler LP owned 1.34% of RB Global worth $197,938,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of RBA. BlackRock Inc. purchased a new stake in shares of RB Global during the second quarter valued at approximately $1,816,059,000. Jupiter Topco LLC bought a new stake in shares of RB Global in the 2nd quarter worth approximately $514,871,000. Lazard Asset Management LLC bought a new stake in shares of RB Global in the first quarter valued at $210,091,000. Wellington Management Group LLP purchased a new position in shares of RB Global during the 2nd quarter valued at $201,813,000. Finally, Caisse de depot et placement du Quebec purchased a new stake in RB Global in the 2nd quarter worth about $183,651,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Weiss Ratings cut shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. Zacks Research downgraded shares of RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Raymond James Financial upgraded shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 target price on the stock in a research note on Tuesday, June 30th. Barclays decreased their price target on shares of RB Global from $121.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of RB Global in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.29.

RB Global Price Performance

RBA opened at $82.03 on Thursday. The stock’s 50 day moving average price is $83.79 and its 200-day moving average price is $98.38. RB Global, Inc. has a 52-week low of $78.05 and a 52-week high of $119.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. The stock has a market capitalization of $14.87 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 1.38 and a beta of 0.53.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.09 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. On average, equities research analysts predict that RB Global, Inc. will post 4.06 EPS for the current year.

Insider Transactions at RB Global

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

RB Global 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.