Allspring Global Investments Holdings LLC Trims Stock Position in RB Global, Inc. (NYSE:RBA)

Allspring Global Investments Holdings LLC reduced its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 7.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 617,607 shares of the business services provider's stock after selling 48,769 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.33% of RB Global worth $49,711,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Blue Trust Inc. increased its stake in RB Global by 11.9% in the third quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider's stock valued at $113,000 after purchasing an additional 157 shares in the last quarter. Trust Point Inc. increased its position in RB Global by 2.2% in the 3rd quarter. Trust Point Inc. now owns 29,136 shares of the business services provider's stock valued at $2,345,000 after buying an additional 615 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in RB Global during the 3rd quarter worth approximately $210,000. Creative Planning boosted its holdings in RB Global by 27.6% in the third quarter. Creative Planning now owns 19,811 shares of the business services provider's stock worth $1,595,000 after acquiring an additional 4,285 shares in the last quarter. Finally, Oliver Luxxe Assets LLC grew its stake in RB Global by 55.7% in the third quarter. Oliver Luxxe Assets LLC now owns 26,553 shares of the business services provider's stock valued at $2,137,000 after acquiring an additional 9,497 shares during the period. 95.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at RB Global

In other news, CRO James J. Jeter sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total transaction of $256,650.00. Following the completion of the sale, the executive now owns 20,267 shares in the company, valued at $1,733,841.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of the company's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the sale, the insider now directly owns 19,271 shares of the company's stock, valued at $1,595,638.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO James J. Jeter sold 3,000 shares of RB Global stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.55, for a total transaction of $256,650.00. Following the completion of the transaction, the executive now owns 20,267 shares of the company's stock, valued at $1,733,841.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,601 shares of company stock worth $3,720,043 over the last three months. 4.32% of the stock is currently owned by insiders.

RB Global Stock Performance

Shares of RBA stock traded down $0.63 during trading on Wednesday, hitting $85.65. The company's stock had a trading volume of 554,553 shares, compared to its average volume of 1,036,705. 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 company has a market cap of $15.66 billion, a PE ratio of 51.98, a P/E/G ratio of 5.29 and a beta of 0.93. The business has a fifty day moving average of $83.03 and a 200-day moving average of $78.55. 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 announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.06. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The business's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS. As a group, research analysts anticipate that RB Global, Inc. will post 1.92 earnings per share for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were given a $0.29 dividend. This is a positive change from RB Global's previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, August 28th. This represents a $1.16 annualized dividend and a yield of 1.35%. RB Global's payout ratio is currently 69.88%.

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.