Oliver Lagore Vanvalin Investment Group Increases Holdings in RB Global, Inc. (NYSE:RBA)

Oliver Lagore Vanvalin Investment Group lifted its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 63.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,448 shares of the business services provider’s stock after purchasing an additional 562 shares during the period. Oliver Lagore Vanvalin Investment Group’s holdings in RB Global were worth $97,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in RB Global by 144.9% in the 3rd quarter. Vanguard Group Inc. now owns 22,647,288 shares of the business services provider’s stock worth $1,415,456,000 after buying an additional 13,400,942 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of RB Global by 286.9% in the 2nd quarter. BlackRock Inc. now owns 6,479,856 shares of the business services provider’s stock valued at $388,791,000 after acquiring an additional 4,804,923 shares during the last quarter. Luxor Capital Group LP lifted its holdings in shares of RB Global by 95.9% in the 4th quarter. Luxor Capital Group LP now owns 4,209,222 shares of the business services provider’s stock valued at $243,419,000 after acquiring an additional 2,060,511 shares during the last quarter. State Street Corp lifted its holdings in shares of RB Global by 179.6% in the 2nd quarter. State Street Corp now owns 2,537,213 shares of the business services provider’s stock valued at $152,233,000 after acquiring an additional 1,629,684 shares during the last quarter. Finally, Norges Bank bought a new position in shares of RB Global in the 4th quarter valued at about $79,586,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on RBA. Royal Bank of Canada increased their price target on shares of RB Global from $75.00 to $93.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Raymond James increased their price target on shares of RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Scotiabank raised their price objective on shares of RB Global from $76.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 26th. Finally, StockNews.com raised shares of RB Global from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RB Global presently has an average rating of “Moderate Buy” and an average price target of $82.80.

RB Global Stock Down 1.0 %

Shares of NYSE RBA opened at $72.49 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.35 and a quick ratio of 1.23. The company has a market cap of $13.25 billion, a P/E ratio of 85.28, a PEG ratio of 5.56 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 firm has a 50-day simple moving average of $74.02 and a two-hundred day simple moving average of $67.74.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Friday, February 23rd. The business services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. RB Global had a net margin of 5.61% and a return on equity of 4.19%. The company’s quarterly revenue was up 134.5% compared to the same quarter last year. During the same period last year, the company posted $0.40 earnings per share. Research analysts anticipate that RB Global, Inc. will post 1.88 earnings per share for the current year.

Insider Transactions at RB Global

In other news, CRO James J. Jeter sold 11,416 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $76.32, for a total transaction of $871,269.12. Following the transaction, the executive now directly owns 30,915 shares of the company’s stock, valued at $2,359,432.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Darren Jeffrey Watt sold 2,300 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $76.97, for a total transaction of $177,031.00. Following the transaction, the insider now directly owns 21,103 shares of the company’s stock, valued at $1,624,297.91. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO James J. Jeter sold 11,416 shares of RB Global stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $76.32, for a total transaction of $871,269.12. Following the transaction, the executive now directly owns 30,915 shares in the company, valued at $2,359,432.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,816 shares of company stock valued at $1,133,055. 4.32% of the stock is currently owned by company insiders.

RB Global Company Profile

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.