Allspring Global Investments Holdings LLC Sells 33,925 Shares of RB Global, Inc. (NYSE:RBA)

Allspring Global Investments Holdings LLC trimmed its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 5.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 583,682 shares of the business services provider's stock after selling 33,925 shares during the period. Allspring Global Investments Holdings LLC owned about 0.32% of RB Global worth $52,724,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arlington Partners LLC grew its holdings in shares of RB Global by 22.3% in the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider's stock valued at $3,958,000 after acquiring an additional 8,961 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in RB Global in the fourth quarter worth $27,000. CIBC Asset Management Inc grew its stake in RB Global by 57.1% in the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider's stock valued at $80,076,000 after purchasing an additional 357,761 shares during the period. Diversified Trust Co increased its position in shares of RB Global by 48.9% during the 4th quarter. Diversified Trust Co now owns 63,119 shares of the business services provider's stock valued at $5,694,000 after purchasing an additional 20,724 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of RB Global by 53.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider's stock worth $4,805,000 after purchasing an additional 20,795 shares during the period. Hedge funds and other institutional investors own 95.37% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RBA shares. BMO Capital Markets increased their price target on shares of RB Global from $105.00 to $107.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Robert W. Baird increased their target price on shares of RB Global from $86.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. StockNews.com raised shares of RB Global from a "hold" rating to a "buy" rating in a report on Monday, January 27th. Royal Bank of Canada increased their price objective on RB Global from $99.00 to $107.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Finally, CIBC lowered their target price on RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a research note on Monday, February 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, RB Global has an average rating of "Moderate Buy" and an average price target of $100.21.

RB Global Stock Performance

RB Global stock traded up $0.36 during mid-day trading on Monday, reaching $96.28. The company's stock had a trading volume of 1,104,261 shares, compared to its average volume of 952,394. The firm's fifty day moving average price is $91.45 and its two-hundred day moving average price is $87.87. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. RB Global, Inc. has a 12-month low of $65.99 and a 12-month high of $99.79. The company has a market capitalization of $17.79 billion, a P/E ratio of 52.33, a PEG ratio of 3.82 and a beta of 0.96.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, February 14th. RB Global's dividend payout ratio (DPR) is presently 63.04%.

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.