Ameriprise Financial Inc. lowered its position in shares of Ritchie Bros. Auctioneers Inc. (NYSE:RBA) by 6.6% during the second quarter, Holdings Channel reports. The firm owned 150,605 shares of the company’s stock after selling 10,651 shares during the period. Ameriprise Financial Inc. owned about 0.14% of Ritchie Bros. Auctioneers worth $5,086,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Envestnet Asset Management Inc. raised its stake in shares of Ritchie Bros. Auctioneers by 5.2% in the first quarter. Envestnet Asset Management Inc. now owns 207,153 shares of the company’s stock worth $5,610,000 after buying an additional 10,310 shares during the period. Diversified Trust Co acquired a new stake in shares of Ritchie Bros. Auctioneers during the second quarter worth $223,000. Primecap Management Co. CA raised its stake in shares of Ritchie Bros. Auctioneers by 3.1% in the first quarter. Primecap Management Co. CA now owns 7,331,480 shares of the company’s stock worth $198,536,000 after buying an additional 223,300 shares during the period. Forward Management LLC raised its stake in shares of Ritchie Bros. Auctioneers by 727.5% in the first quarter. Forward Management LLC now owns 192,923 shares of the company’s stock worth $5,224,000 after buying an additional 169,608 shares during the period. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of Ritchie Bros. Auctioneers during the first quarter worth $875,000. Hedge funds and other institutional investors own 86.29% of the company’s stock.
Shares of Ritchie Bros. Auctioneers Inc. (NYSE:RBA) traded down 0.14% during mid-day trading on Friday, hitting $35.46. The company had a trading volume of 446,768 shares. Ritchie Bros. Auctioneers Inc. has a 12-month low of $21.03 and a 12-month high of $37.23. The firm has a market cap of $3.78 billion, a PE ratio of 27.77 and a beta of 0.48. The firm’s 50 day moving average is $34.48 and its 200-day moving average is $31.96.
Ritchie Bros. Auctioneers (NYSE:RBA) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by $0.07. The business earned $158.80 million during the quarter, compared to the consensus estimate of $160.96 million. Ritchie Bros. Auctioneers had a return on equity of 16.55% and a net margin of 25.39%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share. On average, equities analysts expect that Ritchie Bros. Auctioneers Inc. will post $1.17 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.92%. Ritchie Bros. Auctioneers’s payout ratio is presently 53.97%.
A number of equities research analysts have weighed in on RBA shares. Macquarie started coverage on Ritchie Bros. Auctioneers in a research note on Thursday, August 25th. They set an “outperform” rating and a $34.00 price objective for the company. Bank of America Corp. restated a “hold” rating and set a $37.50 price objective on shares of Ritchie Bros. Auctioneers in a research note on Monday, October 10th. Jefferies Group raised their price objective on Ritchie Bros. Auctioneers from $28.00 to $32.00 and gave the company a “hold” rating in a research note on Wednesday, August 31st. RBC Capital Markets restated an “outperform” rating on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, August 30th. Finally, OTR Global reaffirmed a “negative” rating on shares of Ritchie Bros. Auctioneers in a report on Friday, July 22nd. Two 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 presently has an average rating of “Hold” and an average target price of $33.95.
In other news, VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of Ritchie Bros. Auctioneers stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $34.00, for a total value of $224,400.00. Following the transaction, the vice president now directly owns 6,600 shares in the company, valued at $224,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is owned by insiders.
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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