Kathmere Capital Management LLC Acquires Shares of 4,482 RB Global, Inc. $RBA

Key Points

• Kathmere Capital Management LLC has acquired 4,482 shares of RB Global, Inc., valued at approximately $476,000, marking its entry into the company's stock holding.
• Several institutional investors, such as Massachusetts Financial Services Co. MA and Invesco Ltd., have significantly increased their stakes in RB Global in the first quarter, indicating strong institutional confidence.
• RB Global recently reported a quarterly earnings per share (EPS) of $1.07, exceeding analysts' expectations, and announced a dividend increase to $0.31 per share, reflecting positive financial performance.

Kathmere Capital Management LLC acquired a new stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,482 shares of the business services provider's stock, valued at approximately $476,000.

Several other institutional investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of RB Global by 3.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider's stock worth $1,027,191,000 after buying an additional 352,530 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of RB Global by 17.3% during the first quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider's stock worth $379,150,000 after buying an additional 557,407 shares in the last quarter. Invesco Ltd. increased its holdings in shares of RB Global by 26.9% during the first quarter. Invesco Ltd. now owns 2,436,296 shares of the business services provider's stock worth $244,360,000 after buying an additional 516,865 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of RB Global by 1.1% during the first quarter. Wellington Management Group LLP now owns 1,854,476 shares of the business services provider's stock worth $186,098,000 after buying an additional 19,543 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its holdings in shares of RB Global by 44.4% during the first quarter. Alyeska Investment Group L.P. now owns 1,508,784 shares of the business services provider's stock worth $151,331,000 after buying an additional 463,844 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. National Bankshares upped their price target on shares of RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. BMO Capital Markets boosted their price objective on shares of RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen cut shares of RB Global from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Raymond James Financial boosted their price objective on shares of RB Global from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada boosted their price objective on shares of RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $124.33.

RB Global Stock Performance

Shares of RBA opened at $107.32 on Monday. 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 market capitalization of $19.92 billion, a P/E ratio of 53.13, a price-to-earnings-growth ratio of 2.50 and a beta of 0.65. The firm's fifty day simple moving average is $113.58 and its two-hundred day simple moving average is $106.44. RB Global, Inc. has a 12 month low of $78.08 and a 12 month high of $119.58.

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

RB Global Increases Dividend

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

Insider Transactions at RB Global

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.15, for a total transaction of $254,140.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Darren Jeffrey Watt sold 7,400 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $814,000.00. Following the transaction, the insider directly owned 24,874 shares in the company, valued at $2,736,140. This trade represents a 22.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,209 shares of company stock valued at $6,090,521 in the last 90 days. 0.28% of the stock is currently owned by corporate insiders.

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.

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