Adage Capital Partners GP L.L.C. Raises Holdings in RB Global, Inc. (NYSE:RBA)

Adage Capital Partners GP L.L.C. increased its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 30.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 777,000 shares of the business services provider's stock after buying an additional 182,764 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.42% of RB Global worth $70,093,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Natixis Advisors LLC raised its position in shares of RB Global by 69.5% in the 4th quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider's stock worth $1,703,000 after acquiring an additional 7,737 shares in the last quarter. Mawer Investment Management Ltd. raised its stake in shares of RB Global by 15.7% during the 4th quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider's stock worth $10,876,000 after acquiring an additional 16,397 shares in the last quarter. Vanguard Group Inc. lifted its position in RB Global by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock valued at $2,248,060,000 after acquiring an additional 358,752 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in RB Global in the fourth quarter valued at approximately $27,000. Finally, Pictet Asset Management Holding SA grew its holdings in RB Global by 16.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 100,318 shares of the business services provider's stock worth $9,050,000 after purchasing an additional 13,836 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

RB Global Stock Performance

Shares of NYSE RBA opened at $98.24 on Thursday. The company has a 50 day simple moving average of $98.30 and a two-hundred day simple moving average of $93.15. The stock has a market cap of $18.16 billion, a price-to-earnings ratio of 48.88, a PEG ratio of 4.95 and a beta of 0.90. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a 12 month low of $69.83 and a 12 month high of $106.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.23). The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period in the previous year, the company posted $0.82 earnings per share. As a group, analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares of the company's stock, valued at $10,521,323.89. The trade was a 12.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO James J. Jeter sold 7,597 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the sale, the executive now directly owns 20,267 shares in the company, valued at $1,983,125.95. This trade represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,897 shares of company stock worth $2,338,161 over the last quarter. 4.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Robert W. Baird raised their price objective on RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Royal Bank of Canada boosted their price target on RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. StockNews.com lowered shares of RB Global from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. CIBC dropped their target price on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a research report on Monday, February 3rd. Finally, BMO Capital Markets upped their price target on shares of RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $108.56.

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.

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