Nitorum Capital L.P. Increases Stake in RB Global, Inc. (NYSE:RBA)

Nitorum Capital L.P. boosted its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 374,229 shares of the business services provider's stock after purchasing an additional 6,132 shares during the quarter. RB Global comprises about 3.9% of Nitorum Capital L.P.'s investment portfolio, making the stock its 8th largest position. Nitorum Capital L.P. owned about 0.20% of RB Global worth $33,759,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RBA. Natixis Advisors LLC lifted its holdings 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 valued at $1,703,000 after acquiring an additional 7,737 shares during the last quarter. Mawer Investment Management Ltd. raised its position in RB Global by 15.7% during the fourth quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider's stock valued at $10,876,000 after purchasing an additional 16,397 shares during the period. Vanguard Group Inc. lifted its stake in shares of RB Global by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock valued at $2,248,060,000 after purchasing an additional 358,752 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of RB Global in the 4th quarter worth approximately $27,000. Finally, Pictet Asset Management Holding SA increased its position in shares of RB Global by 16.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 100,318 shares of the business services provider's stock valued at $9,050,000 after purchasing an additional 13,836 shares during the last quarter. Institutional investors own 95.37% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. CIBC dropped their price objective on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a research note on Monday, February 3rd. Robert W. Baird upped their price target on shares of RB Global from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. StockNews.com downgraded shares of RB Global from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Raymond James upped their target price on RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Finally, BMO Capital Markets raised their price target on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $111.36.

Insider Transactions at RB Global

In other RB Global news, CRO James J. Jeter sold 600 shares of the business's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $98.63, for a total value of $59,178.00. Following the completion of the transaction, the executive now directly owns 19,667 shares in the company, valued at approximately $1,939,756.21. The trade was a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now owns 107,569 shares in the company, valued at $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,897 shares of company stock valued at $2,338,161. Company insiders own 4.32% of the company's stock.

RB Global Stock Performance

RB Global stock opened at $98.95 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The company has a market capitalization of $18.32 billion, a PE ratio of 49.23, a P/E/G ratio of 4.95 and a beta of 0.90. The company has a 50 day moving average price of $98.40 and a 200-day moving average price of $93.39. RB Global, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced 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). 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 quarter in the prior year, the business posted $0.82 EPS. As a group, equities analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current year.

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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