Freestone Grove Partners LP Invests $16.25 Million in RB Global, Inc. $RBA

Freestone Grove Partners LP bought a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 139,583 shares of the business services provider’s stock, valued at approximately $16,254,000.

Other large investors have also recently bought and sold shares of the company. Personal CFO Solutions LLC lifted its stake in RB Global by 0.9% during the 1st quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider’s stock valued at $1,073,000 after acquiring an additional 96 shares during the period. Covestor Ltd increased its stake in shares of RB Global by 11.6% in the fourth quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock worth $96,000 after acquiring an additional 97 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of RB Global by 21.9% during the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after purchasing an additional 97 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in RB Global by 5.4% during the third quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock valued at $221,000 after purchasing an additional 105 shares during the period. Finally, Sigma Planning Corp boosted its holdings in RB Global by 1.4% in the fourth quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider’s stock valued at $866,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Stock Up 0.2%

Shares of NYSE RBA opened at $85.90 on Friday. The firm has a market cap of $15.90 billion, a price-to-earnings ratio of 36.87, a price-to-earnings-growth ratio of 1.46 and a beta of 0.56. The company’s 50-day simple moving average is $103.79 and its 200-day simple moving average is $103.31. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. RB Global, Inc. has a 52-week low of $82.03 and a 52-week high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. Equities analysts predict that RB Global, Inc. will post 4.06 EPS for the current fiscal year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.5%. This is a boost from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, August 25th. RB Global’s dividend payout ratio (DPR) is 56.65%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RBA shares. Raymond James Financial raised RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective for the company in a report on Tuesday, June 30th. Barclays dropped their price objective on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings downgraded shares of RB Global from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 17th. National Bank Financial lifted their price objective on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, RB Global has an average rating of “Moderate Buy” and a consensus price target of $128.00.

Insider Buying and Selling at RB Global

In other news, Director Chloe Harford purchased 1,200 shares of the stock in a transaction dated Monday, August 24th. The shares were purchased at an average cost of $83.74 per share, with a total value of $100,488.00. Following the completion of the purchase, the director directly owned 1,200 shares of the company’s stock, valued at approximately $100,488. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.57% of the stock is currently owned by company insiders.

About RB Global

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.