NewGen Asset Management Ltd Sells 5,000 Shares of RB Global, Inc. (NYSE:RBA)

NewGen Asset Management Ltd reduced its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,000 shares of the business services provider’s stock after selling 5,000 shares during the period. RB Global accounts for about 5.1% of NewGen Asset Management Ltd’s holdings, making the stock its 11th biggest position. NewGen Asset Management Ltd owned approximately 0.08% of RB Global worth $10,034,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. bought a new position in shares of RB Global during the fourth quarter valued at about $317,000. Running Oak Capital LLC lifted its position in shares of RB Global by 17.8% during the fourth quarter. Running Oak Capital LLC now owns 134,997 shares of the business services provider’s stock valued at $9,030,000 after purchasing an additional 20,395 shares in the last quarter. Amalgamated Bank lifted its position in shares of RB Global by 5.2% during the fourth quarter. Amalgamated Bank now owns 24,374 shares of the business services provider’s stock valued at $1,630,000 after purchasing an additional 1,199 shares in the last quarter. Benjamin Edwards Inc. raised its position in RB Global by 64.0% in the fourth quarter. Benjamin Edwards Inc. now owns 14,155 shares of the business services provider’s stock worth $947,000 after acquiring an additional 5,525 shares during the period. Finally, Intact Investment Management Inc. raised its position in RB Global by 11.6% in the fourth quarter. Intact Investment Management Inc. now owns 811,008 shares of the business services provider’s stock worth $54,273,000 after acquiring an additional 84,140 shares during the period. 95.37% of the stock is owned by institutional investors.

RB Global Stock Performance

Shares of NYSE RBA traded up $1.05 during midday trading on Friday, hitting $72.24. The company’s stock had a trading volume of 688,659 shares, compared to its average volume of 557,574. The stock has a fifty day moving average price of $74.83 and a 200 day moving average price of $68.31. RB Global, Inc. has a one year low of $51.07 and a one year high of $77.99. The company has a current ratio of 1.35, a quick ratio of 1.23 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $13.20 billion, a price-to-earnings ratio of 84.99, a P/E/G ratio of 5.43 and a beta of 0.88.

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

Insider Activity at RB Global

In related news, CRO James J. Jeter sold 11,416 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive now owns 30,915 shares of the company’s stock, valued at $2,359,432.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Darren Jeffrey Watt sold 2,300 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $76.97, for a total transaction of $177,031.00. Following the completion of the transaction, the insider now owns 21,103 shares of the company’s stock, valued at $1,624,297.91. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO James J. Jeter sold 11,416 shares of the business’s stock in a transaction that occurred on 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 transaction, 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. Over the last 90 days, insiders sold 14,816 shares of company stock valued at $1,133,055. Corporate insiders own 4.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com raised shares of RB Global from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Scotiabank lifted their price objective on shares of RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 24th. Royal Bank of Canada lifted their price objective on shares of RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research report on Monday, February 26th. Finally, Raymond James lifted their price objective on shares of RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.00.

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.