97,697 RB Global, Inc. $RBA Shares Bought by QV Investors Inc.

QV Investors Inc. boosted its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 33.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 390,069 shares of the business services provider’s stock after acquiring an additional 97,697 shares during the quarter. RB Global accounts for about 2.3% of QV Investors Inc.’s investment portfolio, making the stock its 18th biggest position. QV Investors Inc.’s holdings in RB Global were worth $31,846,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of RB Global in the 2nd quarter valued at $1,816,059,000. Jupiter Topco LLC bought a new stake in shares of RB Global in the 2nd quarter worth about $514,871,000. Lazard Asset Management LLC acquired a new stake in shares of RB Global during the 1st quarter worth about $210,091,000. Wellington Management Group LLP bought a new position in RB Global during the 2nd quarter valued at about $201,813,000. Finally, Caisse de depot et placement du Quebec acquired a new position in RB Global in the second quarter valued at about $183,651,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Trading Up 1.4%

Shares of NYSE RBA opened at $80.91 on Wednesday. RB Global, Inc. has a 1-year low of $78.05 and a 1-year high of $119.33. The company has a 50-day moving average of $83.88 and a two-hundred day moving average of $98.49. The company has a market cap of $14.67 billion, a PE ratio of 22.74, a P/E/G ratio of 1.36 and a beta of 0.53. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.09 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.21 billion. RB Global had a net margin of 9.99% and a return on equity of 12.37%. As a group, equities analysts expect that RB Global, Inc. will post 4.06 earnings per share for the current fiscal year.

Insider Buying and Selling at RB Global

In other news, Director Chloe Harford acquired 1,200 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was purchased at an average cost of $83.74 per share, for a total transaction of $100,488.00. Following the completion of the transaction, the director directly owned 1,200 shares in the company, valued at $100,488. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Deborah Stein acquired 500 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were purchased at an average cost of $80.91 per share, with a total value of $40,455.00. Following the completion of the acquisition, the director directly owned 2,325 shares in the company, valued at approximately $188,115.75. The trade was a 27.40% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Raymond James Financial raised shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective on the stock in a research note on Tuesday, June 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $152.00 target price on shares of RB Global in a report on Wednesday, September 23rd. Weiss Ratings downgraded RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. Barclays decreased their price target on RB Global from $121.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 6th. Finally, National Bank Financial raised their price target on RB Global from $130.00 to $132.00 and gave the company an “outperform” rating in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $126.29.

RB Global Company Profile

RB Global, Inc is a global marketplace and provider of asset management and disposition services for commercial and industrial equipment, vehicles and other durable assets. The company connects buyers and sellers through live and online auctions, negotiated sales and digital marketplaces, serving industries such as construction, transportation, agriculture, energy, government and automotive.

Its portfolio includes Ritchie Bros., a major auction and marketplace brand for heavy equipment; IAA, which specializes in salvage and repairable vehicle auctions; and Mascus, an online marketplace for used equipment.