State of Wyoming Purchases 8,234 Shares of RB Global, Inc. $RBA

State of Wyoming increased its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 366.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,483 shares of the business services provider’s stock after acquiring an additional 8,234 shares during the period. State of Wyoming’s holdings in RB Global were worth $853,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RBA. Addison Advisors LLC acquired a new position in RB Global during the 2nd quarter valued at about $26,000. J.Safra Asset Management Corp acquired a new stake in shares of RB Global in the second quarter valued at approximately $32,000. Integrated Wealth Concepts LLC bought a new stake in shares of RB Global during the second quarter valued at approximately $35,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of RB Global during the first quarter valued at approximately $43,000. Finally, Axiom Investment Management LLC bought a new stake in shares of RB Global during the first quarter valued at approximately $76,000. 95.37% of the stock is currently owned by institutional investors.

RB Global Stock Up 1.5%

RB Global stock opened at $89.66 on Friday. RB Global, Inc. has a 52 week low of $78.05 and a 52 week high of $119.33. The stock has a market cap of $16.25 billion, a price-to-earnings ratio of 38.48, a PEG ratio of 1.53 and a beta of 0.53. The company’s 50-day moving average price is $83.89 and its two-hundred day moving average price is $99.86. 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 issued its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.21 billion. RB Global had a net margin of 9.99% and a return on equity of 12.37%. On average, analysts expect that RB Global, Inc. will post 4.06 EPS for the current fiscal year.

RB Global announced that its board has approved a share buyback program on Tuesday, September 15th that permits the company to buy back $500 million in outstanding shares. This repurchase authorization permits the business services provider to purchase up to 3.3% of its stock through open market purchases. Share repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $152.00 price objective on shares of RB Global in a report on Wednesday, September 23rd. Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. National Bank Financial lifted their target price on RB Global from $130.00 to $132.00 and gave the company an “outperform” rating in a research note on Thursday, October 15th. Barclays reduced their price target on RB Global from $121.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, October 6th. Finally, Weiss Ratings cut RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, RB Global has a consensus rating of “Moderate Buy” and a consensus target price of $126.29.

Insider Activity at RB Global

In other news, Director Chloe Harford purchased 1,200 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was purchased at an average cost of $83.74 per share, with a total value of $100,488.00. Following the purchase, the director owned 1,200 shares in the company, valued at $100,488. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Deborah Stein purchased 500 shares of the firm’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 purchase, the director owned 2,325 shares in the company, valued at $188,115.75. This represents a 27.40% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.57% of the stock is owned by insiders.

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.