Thrivent Financial for Lutherans Decreases Holdings in RB Global, Inc. (NYSE:RBA)

Thrivent Financial for Lutherans lowered its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,287 shares of the business services provider’s stock after selling 1,103 shares during the period. Thrivent Financial for Lutherans’ holdings in RB Global were worth $3,484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of RBA. Bank of New York Mellon Corp increased its stake in RB Global by 142.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock worth $102,154,000 after buying an additional 787,042 shares in the last quarter. CIBC Asset Management Inc raised its stake in RB Global by 1,879.0% in the 2nd quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock valued at $47,761,000 after purchasing an additional 594,941 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in RB Global by 3,387.9% in the 2nd quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock valued at $46,712,000 after purchasing an additional 594,199 shares in the last quarter. Retirement Systems of Alabama acquired a new stake in RB Global during the 2nd quarter worth $21,724,000. Finally, Rhumbline Advisers grew its holdings in shares of RB Global by 135.7% during the second quarter. Rhumbline Advisers now owns 480,801 shares of the business services provider’s stock worth $36,714,000 after buying an additional 276,843 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Price Performance

NYSE:RBA opened at $98.49 on Tuesday. RB Global, Inc. has a 52 week low of $60.84 and a 52 week high of $99.79. The stock’s fifty day moving average is $85.55 and its two-hundred day moving average is $81.29. The company has a market capitalization of $18.16 billion, a P/E ratio of 53.53, a P/E/G ratio of 4.70 and a beta of 0.92. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 annualized dividend and a yield of 1.18%. RB Global’s dividend payout ratio (DPR) is currently 63.04%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RBA shares. Bank of America raised their price target on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Robert W. Baird boosted their target price on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Royal Bank of Canada increased their price target on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Raymond James boosted their price objective on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, 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 note on Monday, November 11th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, RB Global has a consensus rating of “Moderate Buy” and an average target price of $98.36.

Insider Buying and Selling at RB Global

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $84.19, for a total value of $1,505,569.77. Following the sale, the chief executive officer now owns 86,247 shares of the company’s stock, valued at $7,261,134.93. The trade was a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.10% of the stock is currently owned by corporate insiders.

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.