Cumberland Partners Ltd Invests $370,000 in RB Global, Inc. (NYSE:RBA)

Cumberland Partners Ltd purchased a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,500 shares of the business services provider’s stock, valued at approximately $370,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in RB Global in the 4th quarter valued at about $54,000. Signaturefd LLC raised its stake in RB Global by 11.0% in the 4th quarter. Signaturefd LLC now owns 1,917 shares of the business services provider’s stock valued at $128,000 after purchasing an additional 190 shares during the last quarter. Cooke & Bieler LP raised its stake in RB Global by 3.6% in the 4th quarter. Cooke & Bieler LP now owns 3,627,957 shares of the business services provider’s stock valued at $242,674,000 after purchasing an additional 124,815 shares during the last quarter. Oliver Lagore Vanvalin Investment Group raised its stake in RB Global by 63.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 1,448 shares of the business services provider’s stock valued at $97,000 after purchasing an additional 562 shares during the last quarter. Finally, Oakworth Capital Inc. raised its stake in RB Global by 53.3% in the 4th quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 162 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Activity

In related news, CRO James J. Jeter sold 11,416 shares of RB Global stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $76.32, for a total transaction of $871,269.12. Following the sale, the executive now owns 30,915 shares of the company’s stock, valued at approximately $2,359,432.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Darren Jeffrey Watt sold 2,300 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $76.97, for a total value of $177,031.00. Following the completion of the sale, the insider now owns 21,103 shares of the company’s stock, valued at approximately $1,624,297.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO James J. Jeter sold 11,416 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $76.32, for a total transaction of $871,269.12. Following the completion of the sale, the executive now directly owns 30,915 shares of the company’s stock, valued at approximately $2,359,432.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,816 shares of company stock valued at $1,133,055. Company insiders own 4.10% of the company’s stock.

RB Global Trading Down 0.2 %

Shares of RB Global stock traded down $0.18 during trading hours on Wednesday, hitting $73.06. The company’s stock had a trading volume of 317,256 shares, compared to its average volume of 810,311. The business has a fifty day moving average of $74.33 and a 200 day moving average of $68.01. RB Global, Inc. has a 1-year low of $51.07 and a 1-year high of $77.99. The company has a quick ratio of 1.23, a current ratio of 1.35 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $13.35 billion, a PE ratio of 85.95, a P/E/G ratio of 5.48 and a beta of 0.87.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Friday, February 23rd. The business services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14. RB Global had a net margin of 5.61% and a return on equity of 4.19%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm posted $0.40 EPS. The business’s revenue for the quarter was up 134.5% compared to the same quarter last year. As a group, equities analysts forecast that RB Global, Inc. will post 1.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Raymond James boosted their target price on shares of RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Royal Bank of Canada upped their price objective on shares of RB Global from $75.00 to $93.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. StockNews.com raised shares of RB Global from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Scotiabank upped their price objective on shares of RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and six 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 $83.00.

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.