Wellington Management Group LLP Has $154.54 Million Stake in RB Global, Inc. (NYSE:RBA)

Wellington Management Group LLP lessened its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 14.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,917,997 shares of the business services provider's stock after selling 315,670 shares during the period. Wellington Management Group LLP owned approximately 1.04% of RB Global worth $154,539,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RBA. Arlington Partners LLC lifted its position in shares of RB Global by 22.3% during the 3rd 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 during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of RB Global by 57.1% during the third 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 last quarter. Canada Pension Plan Investment Board increased its stake in RB Global by 132.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 28,300 shares of the business services provider's stock worth $2,158,000 after purchasing an additional 16,100 shares in the last quarter. Forsta AP Fonden raised its holdings in RB Global by 16.1% during the 3rd quarter. Forsta AP Fonden now owns 43,300 shares of the business services provider's stock worth $3,489,000 after buying an additional 6,000 shares during the period. Finally, New York State Teachers Retirement System acquired a new stake in RB Global during the 2nd quarter worth about $7,101,000. Institutional investors own 95.37% of the company's stock.

RB Global Stock Down 1.3 %

RBA traded down $1.22 during trading on Tuesday, reaching $96.15. 545,687 shares of the stock traded hands, compared to its average volume of 1,006,593. The stock's 50-day simple moving average is $88.73 and its two-hundred day simple moving average is $83.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. RB Global, Inc. has a fifty-two week low of $60.84 and a fifty-two week high of $99.79. The stock has a market cap of $17.73 billion, a price-to-earnings ratio of 52.39, a price-to-earnings-growth ratio of 4.65 and a beta of 0.95.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.21%. RB Global's payout ratio is 63.04%.

Insider Buying and Selling

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,261,134.93. This trade represents a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on RBA shares. Royal Bank of Canada lifted their target price on shares of RB Global from $99.00 to $107.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Bank of America boosted their target price 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. BMO Capital Markets raised their target price on RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Finally, Robert W. Baird lifted their price target on RB Global from $86.00 to $100.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $98.36.

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.