Rothschild Asset Management Inc. raised its position in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 14.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,998 shares of the business services provider’s stock after buying an additional 5,994 shares during the period. Rothschild Asset Management Inc.’s holdings in Ritchie Bros. Auctioneers were worth $1,751,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. CGOV Asset Management increased its stake in Ritchie Bros. Auctioneers by 150.2% in the first quarter. CGOV Asset Management now owns 6,956,054 shares of the business services provider’s stock worth $304,466,000 after buying an additional 4,175,593 shares in the last quarter. Champlain Investment Partners LLC increased its position in shares of Ritchie Bros. Auctioneers by 87.9% in the first quarter. Champlain Investment Partners LLC now owns 2,868,155 shares of the business services provider’s stock valued at $94,362,000 after buying an additional 1,341,355 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Ritchie Bros. Auctioneers by 57.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,498,984 shares of the business services provider’s stock valued at $115,116,000 after buying an additional 1,271,836 shares during the last quarter. KAMES CAPITAL plc purchased a new position in shares of Ritchie Bros. Auctioneers during the first quarter valued at about $25,500,000. Finally, Riverbridge Partners LLC increased its position in shares of Ritchie Bros. Auctioneers by 18.4% in the second quarter. Riverbridge Partners LLC now owns 3,640,160 shares of the business services provider’s stock valued at $104,618,000 after buying an additional 565,290 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.
Shares of Ritchie Bros. Auctioneers Incorporated (RBA) traded down 0.59% during trading on Friday, reaching $28.42. 773,311 shares of the company were exchanged. Ritchie Bros. Auctioneers Incorporated has a one year low of $26.68 and a one year high of $39.96. The company has a 50 day moving average price of $28.11 and a 200-day moving average price of $30.65. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 61.52 and a beta of 0.55.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. Ritchie Bros. Auctioneers had a return on equity of 14.72% and a net margin of 8.96%. The firm had revenue of $166.20 million for the quarter, compared to analysts’ expectations of $161.85 million. During the same quarter last year, the business earned $0.37 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts predict that Ritchie Bros. Auctioneers Incorporated will post $1.02 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Wednesday, August 23rd. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 144.68%.
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Several brokerages recently commented on RBA. Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Scotiabank increased their price objective on shares of Ritchie Bros. Auctioneers from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. National Bank Financial dropped their price objective on shares of Ritchie Bros. Auctioneers from $31.50 to $30.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 9th. TD Securities dropped their price objective on shares of Ritchie Bros. Auctioneers from $27.00 to $25.00 and set a “reduce” rating for the company in a research report on Wednesday, August 9th. Finally, Royal Bank Of Canada set a $40.00 price target on shares of Ritchie Bros. Auctioneers and gave the company a “buy” rating in a report on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Ritchie Bros. Auctioneers currently has an average rating of “Hold” and a consensus price target of $33.42.
Ritchie Bros. Auctioneers Company Profile
Ritchie Bros Auctioneers Inc is a Canada-based holding company. The Company is an industrial auctioneer and used equipment distributor, selling used equipment and other assets. Its segments include Core Auction, which is a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding, and Other, which includes its EquipmentOne and Mascus International Holding B.V.
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