Oppenheimer Asset Management Inc. Increases Stock Position in RB Global, Inc. $RBA

Oppenheimer Asset Management Inc. boosted its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 20.5% during the 4th quarter, HoldingsChannel reports. The fund owned 173,358 shares of the business services provider’s stock after buying an additional 29,530 shares during the period. Oppenheimer Asset Management Inc.’s holdings in RB Global were worth $17,833,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division raised its holdings in shares of RB Global by 41.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock worth $37,000 after purchasing an additional 107 shares during the period. Spire Wealth Management increased its stake in RB Global by 1,090.6% during the 3rd quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock valued at $41,000 after buying an additional 349 shares during the period. State of Wyoming acquired a new position in RB Global during the 2nd quarter valued at about $46,000. Geneos Wealth Management Inc. boosted its position in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 97 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of RB Global by 53.1% during the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 204 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity at RB Global

In other news, Director Deborah Stein bought 400 shares of RB Global stock in a transaction dated Wednesday, March 18th. The shares were bought at an average price of $98.74 per share, for a total transaction of $39,496.00. Following the purchase, the director owned 1,400 shares of the company’s stock, valued at approximately $138,236. This trade represents a 40.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.57% of the company’s stock.

RB Global Trading Down 0.7%

Shares of RBA stock opened at $104.49 on Friday. The firm has a market capitalization of $19.43 billion, a P/E ratio of 51.22, a price-to-earnings-growth ratio of 1.60 and a beta of 0.57. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The firm’s fifty day simple moving average is $100.81 and its 200 day simple moving average is $103.43. RB Global, Inc. has a 1 year low of $93.58 and a 1 year high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, February 17th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.12. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 EPS. As a group, sell-side analysts predict that RB Global, Inc. will post 4.04 EPS for the current year.

Analysts Set New Price Targets

RBA has been the subject of several research reports. BMO Capital Markets raised their price objective on shares of RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Stephens assumed coverage on shares of RB Global in a report on Friday, April 17th. They set an “equal weight” rating and a $96.00 price target for the company. Weiss Ratings upgraded shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Raymond James Financial boosted their price objective on shares of RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Finally, Royal Bank Of Canada boosted their price objective on shares of RB Global from $137.00 to $146.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.13.

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.