Cigna Investments Inc. New Sells 192 Shares of RB Global, Inc. (NYSE:RBA)

by · The Markets Daily

Cigna Investments Inc. New trimmed its stake in shares of RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA) by 5.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,248 shares of the business services provider’s stock after selling 192 shares during the quarter. Cigna Investments Inc. New’s holdings in RB Global were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Hollencrest Capital Management acquired a new position in shares of RB Global in the 1st quarter worth approximately $33,000. Massmutual Trust Co. FSB ADV boosted its stake in RB Global by 58.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after purchasing an additional 165 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of RB Global by 196.0% during the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after purchasing an additional 388 shares during the last quarter. Quarry LP bought a new stake in shares of RB Global during the second quarter worth $53,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of RB Global by 33.5% in the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after buying an additional 210 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Insider Activity at RB Global

In related news, insider Darren Jeffrey Watt sold 2,915 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the completion of the transaction, the insider now owns 19,271 shares in the company, valued at approximately $1,595,638.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of RB Global stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $82.80, for a total transaction of $241,362.00. Following the transaction, the insider now directly owns 19,271 shares in the company, valued at approximately $1,595,638.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $83.09, for a total value of $1,485,898.47. Following the completion of the transaction, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at approximately $7,166,263.23. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,601 shares of company stock worth $3,720,043 in the last ninety days. Company insiders own 4.32% of the company’s stock.

RB Global Stock Performance

Shares of RB Global stock opened at $85.12 on Friday. The firm has a fifty day moving average of $83.43 and a two-hundred day moving average of $79.05. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29. The stock has a market capitalization of $15.70 billion, a price-to-earnings ratio of 47.82, a PEG ratio of 5.62 and a beta of 0.93. RB Global, Inc. has a 52 week low of $58.85 and a 52 week high of $87.45.

RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company posted $0.42 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. As a group, equities research analysts predict that RB Global, Inc. will post 1.92 EPS for the current year.

Analyst Ratings Changes

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

Read Our Latest Report on RBA

About RB Global

(Free Report)

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.

See Also

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