Tower Research Capital LLC TRC Grows Stock Position in RB Global, Inc. (NYSE:RBA)

Tower Research Capital LLC TRC raised its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 183.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,738 shares of the business services provider's stock after acquiring an additional 6,954 shares during the quarter. Tower Research Capital LLC TRC's holdings in RB Global were worth $969,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MML Investors Services LLC increased its stake in shares of RB Global by 28.7% during the 4th quarter. MML Investors Services LLC now owns 13,179 shares of the business services provider's stock worth $1,189,000 after purchasing an additional 2,938 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of RB Global by 9.2% in the fourth quarter. MetLife Investment Management LLC now owns 103,934 shares of the business services provider's stock worth $9,376,000 after acquiring an additional 8,723 shares during the last quarter. Bank of Nova Scotia Trust Co. lifted its position in shares of RB Global by 1.5% in the fourth quarter. Bank of Nova Scotia Trust Co. now owns 67,237 shares of the business services provider's stock valued at $6,065,000 after acquiring an additional 1,013 shares in the last quarter. Claret Asset Management Corp boosted its stake in shares of RB Global by 1.6% during the fourth quarter. Claret Asset Management Corp now owns 10,233 shares of the business services provider's stock valued at $923,000 after acquiring an additional 163 shares during the last quarter. Finally, Covalis Capital LLP increased its position in RB Global by 9.8% during the 4th quarter. Covalis Capital LLP now owns 182,158 shares of the business services provider's stock worth $16,432,000 after purchasing an additional 16,184 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RBA. CIBC decreased their price target on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a research note on Monday, February 3rd. Robert W. Baird raised their target price on shares of 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 company an "outperform" rating in a report on Wednesday, February 19th. National Bankshares decreased their price objective on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, Raymond James lifted their price objective on RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $111.36.

RB Global Trading Up 0.2 %

RBA stock opened at $98.95 on Friday. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90. The company has a market cap of $18.32 billion, a price-to-earnings ratio of 49.23, a PEG ratio of 4.95 and a beta of 0.90. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $98.40 and a 200-day simple moving average of $93.39.

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

Insider Activity at RB Global

In other news, CRO James J. Jeter sold 600 shares of the firm's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $98.63, for a total value of $59,178.00. Following the transaction, the executive now owns 19,667 shares of the company's stock, valued at approximately $1,939,756.21. This trade represents a 2.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Francis Kessler sold 15,700 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the sale, the chief executive officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,897 shares of company stock worth $2,338,161. Company insiders own 4.32% of the company's stock.

RB Global 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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