Cerity Partners LLC Cuts Stock Holdings in RB Global, Inc. (NYSE:RBA)

Cerity Partners LLC lowered its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 32.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,012 shares of the business services provider's stock after selling 2,832 shares during the period. Cerity Partners LLC's holdings in RB Global were worth $542,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in RB Global in the third quarter valued at about $465,000. Retirement Systems of Alabama raised its position in shares of RB Global by 1.1% in the 3rd quarter. Retirement Systems of Alabama now owns 287,684 shares of the business services provider's stock valued at $23,156,000 after purchasing an additional 3,192 shares during the last quarter. Versant Capital Management Inc boosted its stake in RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock worth $28,000 after purchasing an additional 176 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in RB Global in the 4th quarter worth approximately $447,000. Finally, Central Pacific Bank Trust Division purchased a new stake in RB Global during the 4th quarter worth approximately $27,000. Institutional investors own 95.37% of the company's stock.

Insider Buying and Selling at RB Global

In related news, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the sale, the chief executive officer now owns 107,569 shares of the company's stock, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 7,597 shares of the business's 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 completion of the sale, the executive now directly owns 20,267 shares of the company's stock, valued at approximately $1,983,125.95. The trade was a 27.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,897 shares of company stock valued at $2,338,161. Corporate insiders own 4.32% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on RBA. Robert W. Baird lifted their price objective on shares of RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. BMO Capital Markets lifted their price target on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. CIBC cut their price objective on RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada raised their price objective on RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, National Bankshares dropped their target price on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $108.56.

RB Global Stock Performance

RBA stock traded up $1.27 during trading on Wednesday, hitting $98.24. 732,515 shares of the company traded hands, compared to its average volume of 1,079,472. RB Global, Inc. has a 1 year low of $69.83 and a 1 year high of $106.90. The company has a market cap of $18.16 billion, a PE ratio of 48.88, a P/E/G ratio of 4.95 and a beta of 0.90. The stock's 50-day simple moving average is $98.30 and its 200 day simple moving average is $93.15. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17.

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

About RB Global

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.