Diversified Trust Co purchased a new position in Ritchie Bros. Auctioneers Inc. (NYSE:RBA) during the second quarter, Holdings Channel reports. The firm purchased 6,600 shares of the company’s stock, valued at approximately $223,000.
A number of other institutional investors have also bought and sold shares of the company. M&T Bank Corp acquired a new position in Ritchie Bros. Auctioneers during the first quarter worth $225,000. Legal & General Group Plc raised its position in Ritchie Bros. Auctioneers by 21.1% in the first quarter. Legal & General Group Plc now owns 9,177 shares of the company’s stock worth $249,000 after buying an additional 1,600 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Ritchie Bros. Auctioneers during the second quarter worth $260,000. 1st Global Advisors Inc. raised its position in Ritchie Bros. Auctioneers by 6.7% in the second quarter. 1st Global Advisors Inc. now owns 9,025 shares of the company’s stock worth $305,000 after buying an additional 570 shares during the last quarter. Finally, Ngam Advisors L.P. raised its position in Ritchie Bros. Auctioneers by 23.7% in the first quarter. Ngam Advisors L.P. now owns 13,179 shares of the company’s stock worth $357,000 after buying an additional 2,525 shares during the last quarter. Hedge funds and other institutional investors own 86.29% of the company’s stock.
Shares of Ritchie Bros. Auctioneers Inc. (NYSE:RBA) traded up 2.51% during midday trading on Friday, reaching $35.07. 490,998 shares of the company traded hands. Ritchie Bros. Auctioneers Inc. has a 12 month low of $21.03 and a 12 month high of $36.79. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 27.46 and a beta of 0.60. The company’s 50 day moving average is $32.26 and its 200-day moving average is $31.28.
Ritchie Bros. Auctioneers (NYSE:RBA) last posted its earnings results on Tuesday, August 9th. The company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.07. Ritchie Bros. Auctioneers had a net margin of 25.39% and a return on equity of 16.55%. The business had revenue of $158.80 million for the quarter, compared to analysts’ expectations of $160.96 million. During the same quarter last year, the business posted $0.43 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Ritchie Bros. Auctioneers Inc. will post $1.17 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were issued a dividend of $0.17 per share. This is an increase from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Wednesday, August 31st. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is 53.97%.
A number of equities analysts recently weighed in on the stock. KeyCorp upgraded shares of Ritchie Bros. Auctioneers from a “sector weight” rating to an “overweight” rating and set a $34.00 price target on the stock in a research report on Monday, August 15th. They noted that the move was a valuation call. BMO Capital Markets reiterated a “market perform” rating and issued a $38.00 target price (up from $29.00) on shares of Ritchie Bros. Auctioneers in a report on Thursday, September 1st. Zacks Investment Research upgraded shares of Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a report on Saturday, September 3rd. Jefferies Group boosted their target price on shares of Ritchie Bros. Auctioneers from $28.00 to $32.00 and gave the company a “hold” rating in a report on Wednesday, August 31st. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $39.00 target price (up from $34.00) on shares of Ritchie Bros. Auctioneers in a report on Wednesday, August 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $32.55.
In other Ritchie Bros. Auctioneers news, VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of the firm’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $34.00, for a total transaction of $224,400.00. Following the completion of the transaction, the vice president now directly owns 6,600 shares in the company, valued at approximately $224,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.67% of the company’s stock.
About Ritchie Bros. Auctioneers
Ritchie Bros. Auctioneers Incorporated is a holding company. The Company is an auctioneer of industrial equipment. The Company is engaged in selling industrial equipment and other assets for the construction, agricultural, transportation, energy, mining, forestry, material handling, marine and real estate industries at its unreserved auctions and online marketplaces.
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