Centerstone Investors LLC Makes New Investment in RB Global, Inc. (NYSE:RBA)

Centerstone Investors LLC bought a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 34,296 shares of the business services provider’s stock, valued at approximately $1,930,000. RB Global makes up about 2.3% of Centerstone Investors LLC’s investment portfolio, making the stock its 19th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mariner LLC grew its stake in shares of RB Global by 2.4% during the first quarter. Mariner LLC now owns 10,469 shares of the business services provider’s stock worth $618,000 after purchasing an additional 248 shares in the last quarter. Fifth Third Bancorp boosted its stake in RB Global by 11.6% in the first quarter. Fifth Third Bancorp now owns 2,541 shares of the business services provider’s stock valued at $143,000 after acquiring an additional 264 shares in the last quarter. Resources Investment Advisors LLC. boosted its stake in RB Global by 5.8% in the first quarter. Resources Investment Advisors LLC. now owns 5,282 shares of the business services provider’s stock valued at $297,000 after acquiring an additional 290 shares in the last quarter. Assetmark Inc. boosted its stake in RB Global by 12.1% in the first quarter. Assetmark Inc. now owns 2,848 shares of the business services provider’s stock valued at $160,000 after acquiring an additional 307 shares in the last quarter. Finally, Addison Advisors LLC raised its holdings in shares of RB Global by 33.9% in the first quarter. Addison Advisors LLC now owns 1,271 shares of the business services provider’s stock valued at $72,000 after buying an additional 322 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analyst Ratings Changes

RBA has been the subject of several recent research reports. National Bank Financial increased their target price on shares of RB Global from $61.00 to $70.00 in a research note on Monday, July 10th. Raymond James upgraded shares of RB Global from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $60.00 to $75.00 in a research note on Thursday, July 20th. National Bankshares upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $61.00 target price for the company in a research note on Thursday, May 18th. Royal Bank of Canada raised their price objective on shares of RB Global from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, August 8th. Finally, StockNews.com upgraded shares of RB Global from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.25.

RB Global Price Performance

Shares of RBA stock traded up $0.24 during midday trading on Monday, reaching $66.52. 933,822 shares of the company traded hands, compared to its average volume of 2,107,836. The firm’s 50 day simple moving average is $60.87 and its two-hundred day simple moving average is $58.02. RB Global, Inc. has a 1-year low of $48.72 and a 1-year high of $68.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.19. The firm has a market cap of $12.11 billion, a PE ratio of 72.30, a price-to-earnings-growth ratio of 14.29 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.17). RB Global had a net margin of 5.94% and a return on equity of 4.77%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.03 billion. On average, equities research analysts expect that RB Global, Inc. will post 0.65 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.62%. RB Global’s dividend payout ratio (DPR) is 117.39%.

Insider Transactions at RB Global

In other RB Global news, CEO James Francis Kessler acquired 2,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was acquired at an average cost of $56.30 per share, with a total value of $112,600.00. Following the purchase, the chief executive officer now directly owns 63,011 shares in the company, valued at approximately $3,547,519.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other RB Global news, insider Megan Anne Cash sold 13,596 shares of RB Global stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $61.78, for a total value of $839,960.88. Following the completion of the sale, the insider now directly owns 15,330 shares of the company’s stock, valued at approximately $947,087.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Francis Kessler bought 2,000 shares of the stock in a transaction on Thursday, August 17th. The stock was purchased at an average cost of $56.30 per share, with a total value of $112,600.00. Following the completion of the purchase, the chief executive officer now directly owns 63,011 shares in the company, valued at approximately $3,547,519.30. The disclosure for this purchase can be found here. Insiders acquired a total of 5,411 shares of company stock valued at $313,870 in the last ninety days. Corporate insiders own 4.32% of the company’s stock.

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; Xcira that provides live simulcast auction technologies; and Veritread, an online marketplace for heavy haul transport solution.