Parkside Financial Bank & Trust Decreases Holdings in RB Global, Inc. (NYSE:RBA)

Parkside Financial Bank & Trust decreased its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,399 shares of the business services provider’s stock after selling 316 shares during the period. Parkside Financial Bank & Trust’s holdings in RB Global were worth $227,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ronald Blue Trust Inc. increased its stake in RB Global by 139.1% during the 3rd quarter. Ronald Blue Trust Inc. now owns 947 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 551 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of RB Global by 120.4% during the third quarter. SG Americas Securities LLC now owns 7,089 shares of the business services provider’s stock worth $443,000 after purchasing an additional 3,872 shares during the last quarter. WASHINGTON TRUST Co purchased a new position in shares of RB Global during the third quarter worth $56,000. Cardinal Point Capital Management ULC purchased a new position in shares of RB Global during the third quarter worth $413,000. Finally, Arcadia Investment Management Corp MI raised its holdings in shares of RB Global by 12.8% during the third quarter. Arcadia Investment Management Corp MI now owns 8,000 shares of the business services provider’s stock worth $500,000 after purchasing an additional 905 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Buying and Selling

In related news, insider Darren Jeffrey Watt sold 2,300 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,624,297.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other RB Global news, insider Darren Jeffrey Watt sold 2,300 shares of RB Global stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO James J. Jeter sold 11,416 shares of RB Global stock in a transaction dated Thursday, February 29th. The stock was 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 worth $1,133,055. 4.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. StockNews.com raised shares of RB Global from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Raymond James lifted their price objective 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. Finally, Scotiabank lifted their price objective on shares of RB Global from $76.00 to $88.00 and gave the company a “sector outperform” rating in a report on Monday, February 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.80.

RB Global Price Performance

Shares of NYSE RBA traded down $0.53 during trading on Wednesday, hitting $72.71. The company had a trading volume of 201,929 shares, compared to its average volume of 809,020. The stock has a fifty day simple moving average of $74.20 and a two-hundred day simple moving average of $67.95. RB Global, Inc. has a fifty-two week low of $51.07 and a fifty-two week high of $77.99. The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of 86.15, a price-to-earnings-growth ratio of 5.48 and a beta of 0.87. The company has a quick ratio of 1.23, a current ratio of 1.35 and a debt-to-equity ratio of 0.61.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. The firm 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%. RB Global’s quarterly revenue was up 134.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share. On average, research analysts expect that RB Global, Inc. will post 1.9 earnings per share for the current year.

RB Global 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.