Chicago Partners Investment Group LLC Acquires New Shares in RB Global, Inc. (NYSE:RBA)

Chicago Partners Investment Group LLC bought a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,762 shares of the business services provider’s stock, valued at approximately $237,000.

Several other large investors have also modified their holdings of RBA. Massmutual Trust Co. FSB ADV increased its holdings in RB Global by 58.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after buying an additional 165 shares during the period. UMB Bank n.a. boosted its position in RB Global by 196.0% during the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 388 shares in the last quarter. Quarry LP purchased a new position in shares of RB Global in the 2nd quarter valued at $53,000. Nisa Investment Advisors LLC raised its position in shares of RB Global by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after acquiring an additional 210 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of RB Global by 30.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,020 shares of the business services provider’s stock worth $78,000 after acquiring an additional 241 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Trading Up 1.4 %

NYSE:RBA opened at $86.62 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $83.38 and a 200-day simple moving average of $79.41. RB Global, Inc. has a 12 month low of $58.85 and a 12 month high of $87.45. The company has a market capitalization of $15.97 billion, a P/E ratio of 48.66, a PEG ratio of 5.55 and a beta of 0.92.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The company’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 earnings per share. On average, equities research analysts anticipate that RB Global, Inc. will post 1.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RBA shares. Bank of America raised their price objective on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. BMO Capital Markets initiated coverage on shares of RB Global in a research report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price objective on the stock. Royal Bank of Canada increased their target price on shares of RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Raymond James upped their price target on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird increased their price objective on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.19.

Insider Buying and Selling

In other RB Global news, CRO James J. Jeter sold 2,920 shares of RB Global stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the sale, the executive now directly owns 23,267 shares in the company, valued at approximately $1,837,162.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other RB Global news, CRO James J. Jeter sold 2,920 shares of RB Global stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the transaction, the executive now owns 23,267 shares in the company, valued at approximately $1,837,162.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $83.09, for a total value of $1,485,898.47. Following the completion of the sale, the chief executive officer now owns 86,247 shares in the company, valued at $7,166,263.23. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,601 shares of company stock worth $3,720,043. 4.10% of the stock is owned by company insiders.

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.