RB Global, Inc. $RBA Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 13.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 442,528 shares of the business services provider’s stock after acquiring an additional 50,830 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.24% of RB Global worth $45,709,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in RB Global by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider’s stock worth $2,744,455,000 after purchasing an additional 124,926 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in RB Global by 7.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock valued at $1,162,370,000 after purchasing an additional 705,423 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of RB Global by 10.3% in the third quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock worth $781,862,000 after buying an additional 672,450 shares during the last quarter. Fiera Capital Corp raised its holdings in shares of RB Global by 4.9% in the third quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider’s stock worth $440,353,000 after buying an additional 190,408 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of RB Global by 17.7% during the third quarter. Invesco Ltd. now owns 2,863,540 shares of the business services provider’s stock worth $310,293,000 after buying an additional 430,729 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Activity

In other news, CEO James Francis Kessler sold 20,742 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the sale, the chief executive officer owned 107,569 shares of the company’s stock, valued at $12,370,435. This trade represents a 16.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Deborah Stein bought 400 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were purchased at an average cost of $98.74 per share, with a total value of $39,496.00. Following the completion of the acquisition, the director owned 1,400 shares in the company, valued at approximately $138,236. This represents a 40.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 4.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RBA has been the topic of a number of research analyst reports. BMO Capital Markets boosted their price objective on shares of RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Weiss Ratings raised RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Raymond James Financial boosted their price target on RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Finally, Royal Bank Of Canada boosted their price target on RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $129.29.

RB Global Stock Up 0.8%

RBA stock opened at $96.61 on Thursday. The company has a market capitalization of $17.96 billion, a P/E ratio of 47.36, a price-to-earnings-growth ratio of 1.46 and a beta of 0.57. RB Global, Inc. has a 12 month low of $87.87 and a 12 month high of $119.58. The firm’s fifty day simple moving average is $104.80 and its 200-day simple moving average is $104.51. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 1.02.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, February 17th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.12. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.95 earnings per share. As a group, equities research analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 9th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, February 9th. RB Global’s dividend payout ratio (DPR) is 60.78%.

About RB Global

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.