RB Global, Inc. $RBA Stock Position Increased by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 10.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 66,826 shares of the business services provider’s stock after purchasing an additional 6,091 shares during the period. Tectonic Advisors LLC’s holdings in RB Global were worth $5,439,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RBA. Armstrong Henry H Associates Inc. grew its holdings in shares of RB Global by 30.1% during the third quarter. Armstrong Henry H Associates Inc. now owns 53,226 shares of the business services provider’s stock worth $4,332,000 after buying an additional 12,317 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of RB Global by 9.2% during the first quarter. Public Employees Retirement System of Ohio now owns 207,778 shares of the business services provider’s stock valued at $19,873,000 after buying an additional 17,489 shares during the period. Legacy Wealth Asset Management LLC lifted its stake in shares of RB Global by 127.3% during the second quarter. Legacy Wealth Asset Management LLC now owns 26,343 shares of the business services provider’s stock valued at $3,068,000 after buying an additional 14,755 shares during the period. Bank of America Corp DE lifted its stake in shares of RB Global by 7.8% during the first quarter. Bank of America Corp DE now owns 1,452,438 shares of the business services provider’s stock valued at $139,216,000 after buying an additional 104,560 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in RB Global during the second quarter worth approximately $17,590,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

RB Global Trading Down 0.3%

Shares of RBA traded down $0.21 during mid-day trading on Friday, hitting $84.18. The company had a trading volume of 1,600,196 shares, compared to its average volume of 2,093,198. The business’s 50-day simple moving average is $83.75 and its 200-day simple moving average is $98.18. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. RB Global, Inc. has a 1-year low of $78.05 and a 1-year high of $119.33. The stock has a market cap of $15.26 billion, a PE ratio of 36.13, a P/E/G ratio of 1.44 and a beta of 0.53.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RBA shares. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. National Bank Financial increased their price target on RB Global from $130.00 to $132.00 and gave the stock an “outperform” rating in a research note on Thursday, October 15th. Royal Bank Of Canada restated an “outperform” rating and set a $152.00 price objective on shares of RB Global in a report on Wednesday, September 23rd. Raymond James Financial upgraded RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective on the stock in a report on Tuesday, June 30th. Finally, Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $126.29.

About RB Global

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.