New York State Common Retirement Fund Trims Position in RB Global, Inc. (NYSE:RBA)

New York State Common Retirement Fund cut its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 27.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 253,982 shares of the business services provider's stock after selling 93,796 shares during the quarter. New York State Common Retirement Fund owned 0.14% of RB Global worth $20,443,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RBA. Advisor OS LLC grew its position in RB Global by 1.9% in the second quarter. Advisor OS LLC now owns 8,352 shares of the business services provider's stock valued at $638,000 after acquiring an additional 156 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of RB Global by 11.9% during the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider's stock valued at $113,000 after acquiring an additional 157 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in RB Global by 58.7% during the 2nd 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. 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 purchasing an additional 210 shares in the last quarter. Finally, Cigna Investments Inc. New raised its position in RB Global by 6.6% in the second quarter. Cigna Investments Inc. New now owns 3,440 shares of the business services provider's stock valued at $262,000 after purchasing an additional 212 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Darren Jeffrey Watt sold 2,915 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the completion of the sale, the insider now owns 19,271 shares in the company, valued at $1,595,638.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Darren Jeffrey Watt sold 2,915 shares of RB Global stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the sale, the insider now owns 19,271 shares of the company's stock, valued at approximately $1,595,638.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 2,920 shares of the company's stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the sale, the executive now directly owns 23,267 shares in the company, valued at approximately $1,837,162.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,601 shares of company stock valued at $3,720,043. Company insiders own 4.10% of the company's stock.

RB Global Stock Up 1.4 %

Shares of RBA traded up $1.23 during trading hours on Tuesday, reaching $86.63. 729,107 shares of the stock traded hands, compared to its average volume of 1,018,172. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The company has a market cap of $15.98 billion, a price-to-earnings ratio of 47.98, a PEG ratio of 5.55 and a beta of 0.92. RB Global, Inc. has a 52 week low of $58.85 and a 52 week high of $87.45. The stock has a fifty day simple moving average of $83.39 and a 200 day simple moving average of $79.31.

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

Analyst Upgrades and Downgrades

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

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.