Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) announced a quarterly dividend on Thursday, January 13th, Zacks reports. Investors of record on Friday, February 11th will be paid a dividend of 0.25 per share by the business services provider on Friday, March 4th. This represents a $1.00 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, February 10th.
Ritchie Bros. Auctioneers has increased its dividend by 34.3% over the last three years and has raised its dividend every year for the last 4 years. Ritchie Bros. Auctioneers has a dividend payout ratio of 36.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ritchie Bros. Auctioneers to earn $2.01 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 49.8%.
Shares of RBA stock opened at $61.86 on Friday. The stock’s fifty day simple moving average is $65.91 and its 200 day simple moving average is $63.35. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.21 and a quick ratio of 1.12. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 40.43, a P/E/G ratio of 4.44 and a beta of 1.13. Ritchie Bros. Auctioneers has a one year low of $50.61 and a one year high of $76.18.
In related news, CMO Matthew Ackley sold 1,500 shares of the company’s stock in a transaction dated Wednesday, December 8th. The stock was sold at an average price of $70.97, for a total transaction of $106,455.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James J. Jeter sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 21st. The stock was sold at an average price of $60.99, for a total value of $121,980.00. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.
A hedge fund recently raised its stake in Ritchie Bros. Auctioneers stock. LPL Financial LLC raised its holdings in Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 16.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,988 shares of the business services provider’s stock after buying an additional 2,415 shares during the period. LPL Financial LLC’s holdings in Ritchie Bros. Auctioneers were worth $1,047,000 at the end of the most recent quarter. 82.13% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on Ritchie Bros. Auctioneers from $65.00 to $72.00 and gave the stock a “sector perform” rating in a research report on Monday, November 8th. TD Securities raised Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and decreased their target price for the company from $69.00 to $64.00 in a research note on Thursday, January 6th. OTR Global reissued a “negative” rating on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, November 2nd. Raymond James upped their price objective on Ritchie Bros. Auctioneers from $63.00 to $74.00 and gave the stock a “market perform” rating in a research report on Monday, November 8th. Finally, Zacks Investment Research raised Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research report on Wednesday, November 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Ritchie Bros. Auctioneers has a consensus rating of “Hold” and an average price target of $64.83.
About Ritchie Bros. Auctioneers
Ritchie Bros. Auctioneers, Inc is an industrial auctioneer, which engages in the sale of equipment to on-site and online bidders. It operates through the following segments: Auctions and Marketplaces, Ritchie Bros. Financial Services and Mascus. The Auctions and Marketplaces segment consists of live on site auctions, online auctions and marketplaces, and brokerage service.
Read More: Understanding each part of a balance sheet
Receive News & Ratings for Ritchie Bros. Auctioneers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ritchie Bros. Auctioneers and related companies with MarketBeat.com's FREE daily email newsletter.