RB Global, Inc. (NYSE:RBA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 30.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 426,637 shares of the business services provider’s stock after selling 185,101 shares during the period. Principal Financial Group Inc. owned about 0.23% of RB Global worth $34,340,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in shares of RB Global by 142.9% during the second quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock valued at $102,154,000 after buying an additional 787,042 shares during the period. National Bank of Canada FI lifted its stake in shares of RB Global by 309.6% during the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock worth $65,014,000 after purchasing an additional 610,843 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of RB Global by 1,879.0% during the second quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock worth $47,761,000 after purchasing an additional 594,941 shares during the last quarter. FMR LLC increased its stake in RB Global by 60.5% in the third quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock valued at $95,057,000 after purchasing an additional 445,004 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in RB Global by 17.1% during the third quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock worth $196,109,000 after buying an additional 354,803 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. 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. Royal Bank of Canada increased their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. CIBC upped their price objective on RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a report on Thursday, December 12th. BMO Capital Markets lifted their target price on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, Bank of America raised their price objective on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.36.

RB Global Price Performance

Shares of RBA opened at $90.31 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. The company has a market cap of $16.65 billion, a P/E ratio of 49.08, a PEG ratio of 4.56 and a beta of 0.95. RB Global, Inc. has a 12 month low of $60.84 and a 12 month high of $99.79. The stock has a fifty day moving average price of $91.32 and a 200 day moving average price of $84.39.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Wednesday, November 27th. RB Global’s payout ratio is currently 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.