Zurcher Kantonalbank Zurich Cantonalbank Cuts Holdings in RB Global, Inc. $RBA

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 29.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,382 shares of the business services provider’s stock after selling 33,398 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in RB Global were worth $8,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. AQR Capital Management LLC raised its holdings in shares of RB Global by 94.3% in the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock worth $1,031,000 after purchasing an additional 5,090 shares during the period. NewEdge Advisors LLC raised its holdings in shares of RB Global by 53.1% in the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after purchasing an additional 204 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of RB Global by 857.9% in the 1st quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock worth $375,000 after purchasing an additional 3,346 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of RB Global by 35.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock worth $33,940,000 after purchasing an additional 88,813 shares during the period. Finally, Woodline Partners LP purchased a new position in shares of RB Global in the 1st quarter worth about $4,103,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Performance

Shares of NYSE:RBA opened at $106.30 on Friday. The company has a market cap of $19.76 billion, a P/E ratio of 52.11, a PEG ratio of 1.56 and a beta of 0.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.10. RB Global, Inc. has a one year low of $93.58 and a one year high of $119.58. The business’s 50-day simple moving average is $100.61 and its 200 day simple moving average is $103.41.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.12. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the business earned $0.95 EPS. RB Global’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that RB Global, Inc. will post 4.04 earnings per share for the current fiscal year.

Insider Transactions at RB Global

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

Analysts Set New Price Targets

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

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.