RB Global, Inc. $RBA Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 88.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 710 shares of the business services provider’s stock after selling 5,381 shares during the quarter. Nisa Investment Advisors LLC’s holdings in RB Global were worth $58,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. QV Investors Inc. lifted its position in RB Global by 33.4% during the 3rd quarter. QV Investors Inc. now owns 390,069 shares of the business services provider’s stock worth $31,846,000 after acquiring an additional 97,697 shares during the period. Arkfeld Wealth Strategies L.L.C. purchased a new stake in RB Global in the third quarter valued at $771,000. Assenagon Asset Management S.A. boosted its holdings in RB Global by 5.0% in the third quarter. Assenagon Asset Management S.A. now owns 7,310 shares of the business services provider’s stock valued at $598,000 after purchasing an additional 349 shares during the last quarter. Ninety One UK Ltd acquired a new stake in RB Global during the third quarter worth about $238,000. Finally, Avior Wealth Management LLC increased its holdings in shares of RB Global by 15.8% during the 3rd quarter. Avior Wealth Management LLC now owns 13,172 shares of the business services provider’s stock valued at $1,072,000 after purchasing an additional 1,799 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Activity

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

RB Global Stock Up 4.2%

Shares of NYSE:RBA opened at $93.47 on Tuesday. 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 fifty-two week low of $78.05 and a fifty-two week high of $119.33. The company has a market cap of $16.94 billion, a price-to-earnings ratio of 40.11, a PEG ratio of 1.44 and a beta of 0.53. The firm’s 50-day simple moving average is $84.02 and its 200-day simple moving average is $99.77.

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

RB Global declared that its Board of Directors has approved a share repurchase program on Tuesday, September 15th that permits the company to buy back $500 million in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Weiss Ratings cut RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. National Bank Financial increased their price objective on shares of RB Global from $130.00 to $132.00 and gave the company an “outperform” rating in a report on Thursday, October 15th. Barclays decreased their price objective 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. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of RB Global in a report on Wednesday, August 5th. Finally, Zacks Research lowered shares of RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.29.

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.