Allspring Global Investments Holdings LLC Sells 84,536 Shares of RB Global, Inc. $RBA

Key Points

• Allspring Global Investments Holdings LLC reduced its ownership in RB Global, Inc. by 16.4%, selling 84,536 shares and holding a total of 430,167 shares valued at approximately $45.5 million.
• Insider Michael Thomas Steven Lewis sold 2,151 shares at an average price of $118.15, amounting to a total of $254,140.65.
• RB Global recently declared a quarterly dividend of $0.31 per share, a slight increase from the previous $0.29, representing an annualized yield of 1.2%.

Allspring Global Investments Holdings LLC lessened its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 16.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 430,167 shares of the business services provider's stock after selling 84,536 shares during the period. Allspring Global Investments Holdings LLC owned 0.23% of RB Global worth $45,542,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RBA. Samlyn Capital LLC bought a new position in shares of RB Global in the first quarter worth about $118,821,000. Third Point LLC bought a new position in shares of RB Global in the first quarter worth about $95,285,000. Fiera Capital Corp boosted its stake in shares of RB Global by 17.3% in the first quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider's stock worth $379,150,000 after acquiring an additional 557,407 shares during the period. Nuveen LLC bought a new position in shares of RB Global in the first quarter worth about $54,584,000. Finally, Invesco Ltd. boosted its stake in shares of RB Global by 26.9% in the first quarter. Invesco Ltd. now owns 2,436,296 shares of the business services provider's stock worth $244,360,000 after acquiring an additional 516,865 shares during the period. Institutional investors own 95.37% of the company's stock.

Insider Transactions at RB Global

In other RB Global news, insider Michael Thomas Steven Lewis sold 2,151 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $118.15, for a total transaction of $254,140.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.28% of the stock is currently owned by company insiders.

RB Global Price Performance

Shares of RB Global stock opened at $105.79 on Wednesday. RB Global, Inc. has a 12 month low of $78.55 and a 12 month high of $119.58. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average of $113.06 and a 200 day moving average of $107.02. The firm has a market cap of $19.64 billion, a PE ratio of 52.37, a PEG ratio of 2.44 and a beta of 0.65.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The company's quarterly revenue was up 8.2% compared to the same quarter last year. On average, research analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. This is a boost from RB Global's previous quarterly dividend of $0.29. The ex-dividend date was Thursday, August 28th. RB Global's dividend payout ratio (DPR) is currently 61.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RBA shares. Royal Bank Of Canada upped their price objective on RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. BMO Capital Markets upped their price objective on RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. National Bankshares dropped their price objective on RB Global from $113.00 to $111.00 and set a "sector perform" rating for the company in a research note on Thursday, October 9th. CIBC increased their price target on RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research note on Friday, July 18th. Finally, Wall Street Zen lowered RB Global from a "buy" rating to a "hold" rating in a research note on Saturday. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $124.00.

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.

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