Allspring Global Investments Holdings LLC Buys 26,548 Shares of RB Global, Inc. (NYSE:RBA)

Allspring Global Investments Holdings LLC boosted its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 704,778 shares of the business services provider’s stock after purchasing an additional 26,548 shares during the period. Allspring Global Investments Holdings LLC’s holdings in RB Global were worth $53,683,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RBA. Triasima Portfolio Management inc. increased its stake in RB Global by 1,152.4% in the fourth quarter. Triasima Portfolio Management inc. now owns 193,118 shares of the business services provider’s stock worth $12,947,000 after purchasing an additional 177,698 shares during the period. Brevan Howard Capital Management LP purchased a new position in RB Global in the 4th quarter worth about $2,009,000. Charles Schwab Investment Management Inc. lifted its holdings in RB Global by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,030,810 shares of the business services provider’s stock valued at $68,951,000 after buying an additional 24,684 shares in the last quarter. TD Asset Management Inc boosted its position in RB Global by 3.9% in the 4th quarter. TD Asset Management Inc now owns 603,261 shares of the business services provider’s stock valued at $40,567,000 after buying an additional 22,636 shares during the period. Finally, Vontobel Holding Ltd. grew its stake in RB Global by 487.6% in the 4th quarter. Vontobel Holding Ltd. now owns 158,329 shares of the business services provider’s stock worth $10,591,000 after acquiring an additional 131,383 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. CIBC assumed coverage on shares of RB Global in a research note on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price target for the company. Bank of America lifted their target price on RB Global from $68.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Finally, Scotiabank increased their price target on RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.14.

RB Global Stock Up 0.9 %

Shares of NYSE RBA opened at $76.43 on Wednesday. The stock has a market capitalization of $13.97 billion, a PE ratio of 46.04, a price-to-earnings-growth ratio of 5.22 and a beta of 0.91. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.58. RB Global, Inc. has a 12-month low of $55.54 and a 12-month high of $81.74. The stock’s fifty day simple moving average is $75.41 and its two-hundred day simple moving average is $72.00.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Thursday, May 9th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.15. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. RB Global had a return on equity of 6.87% and a net margin of 8.08%. As a group, analysts expect that RB Global, Inc. will post 2.04 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, May 29th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $1.08 dividend on an annualized basis and a yield of 1.41%. RB Global’s payout ratio is 65.06%.

Insider Activity at RB Global

In other RB Global news, CEO James Francis Kessler sold 8,000 shares of RB Global stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $80.91, for a total value of $647,280.00. Following the transaction, the chief executive officer now directly owns 78,104 shares of the company’s stock, valued at $6,319,394.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Darren Jeffrey Watt sold 3,637 shares of RB Global stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $80.66, for a total value of $293,360.42. Following the completion of the sale, the insider now directly owns 17,279 shares in the company, valued at approximately $1,393,724.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Francis Kessler sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $80.91, for a total transaction of $647,280.00. Following the transaction, the chief executive officer now owns 78,104 shares in the company, valued at approximately $6,319,394.64. The disclosure for this sale can be found here. Insiders sold 43,867 shares of company stock valued at $3,370,272 over the last 90 days. Insiders own 4.10% of the company’s stock.

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.