RB Global, Inc. (NYSE:RBA) Stake Cut by Fiera Capital Corp

Fiera Capital Corp decreased its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,091,232 shares of the business services provider's stock after selling 52,692 shares during the period. Fiera Capital Corp owned about 1.68% of RB Global worth $249,116,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in RBA. Massmutual Trust Co. FSB ADV grew its stake in shares of RB Global by 58.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider's stock worth $34,000 after acquiring an additional 165 shares during the last quarter. UMB Bank n.a. increased its holdings in RB Global by 196.0% in the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider's stock valued at $47,000 after buying an additional 388 shares in the last quarter. Quarry LP purchased a new position in RB Global during the second quarter worth approximately $53,000. Nisa Investment Advisors LLC increased its holdings in RB Global by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider's stock worth $64,000 after acquiring an additional 210 shares in the last quarter. Finally, Hollencrest Capital Management raised its position in shares of RB Global by 99.8% during the 3rd quarter. Hollencrest Capital Management now owns 875 shares of the business services provider's stock worth $70,000 after purchasing an additional 437 shares during the last quarter. Institutional investors own 95.37% of the company's stock.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 17,883 shares of the firm's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the sale, the chief executive officer now owns 86,247 shares in the company, valued at $7,261,134.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO James Francis Kessler sold 17,883 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $84.19, for a total value of $1,505,569.77. Following the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,261,134.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO James J. Jeter sold 2,920 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the sale, the executive now directly owns 23,267 shares of the company's stock, valued at $1,837,162.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,601 shares of company stock valued at $3,720,043. Corporate insiders own 4.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RBA. Raymond James upped their price objective on shares of RB Global from $95.00 to $98.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. Robert W. Baird increased their target price on RB Global from $80.00 to $86.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Royal Bank of Canada boosted their price target on shares of RB Global from $93.00 to $99.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Bank of America lifted their price objective on shares of RB Global from $79.00 to $92.50 and gave the stock a "neutral" rating in a research report on Monday, August 26th. Finally, BMO Capital Markets assumed coverage on shares of RB Global in a research report on Thursday, September 5th. They set an "outperform" rating and a $105.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, RB Global presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.19.

RB Global Stock Performance

NYSE RBA traded up $2.52 on Friday, hitting $91.86. 1,554,292 shares of the company's stock were exchanged, compared to its average volume of 1,018,819. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20. RB Global, Inc. has a fifty-two week low of $58.85 and a fifty-two week high of $93.18. The firm has a market cap of $16.94 billion, a price-to-earnings ratio of 52.14, a P/E/G ratio of 5.82 and a beta of 0.92. The firm's 50-day moving average price is $83.54 and its two-hundred day moving average price is $79.55.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company posted $0.42 EPS. The business's revenue was down .9% on a year-over-year basis. On average, research analysts expect that RB Global, Inc. will post 1.92 EPS for the current 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.