JPMorgan Chase & Co. boosted its stake in Ritchie Bros. Auctioneers Inc. (NYSE:RBA) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 353,462 shares of the company’s stock after buying an additional 7,264 shares during the period. JPMorgan Chase & Co. owned approximately 0.33% of Ritchie Bros. Auctioneers worth $11,939,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Ritchie Bros. Auctioneers during the fourth quarter valued at $34,083,000. Aperio Group LLC increased its position in Ritchie Bros. Auctioneers by 46.6% in the first quarter. Aperio Group LLC now owns 131,426 shares of the company’s stock valued at $3,559,000 after buying an additional 41,800 shares during the period. Ngam Advisors L.P. increased 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 valued at $357,000 after buying an additional 2,525 shares during the period. Tobam increased its position in Ritchie Bros. Auctioneers by 301.7% in the first quarter. Tobam now owns 93,200 shares of the company’s stock valued at $2,529,000 after buying an additional 70,000 shares during the period. Finally, NN Investment Partners Holdings N.V. bought a new position in Ritchie Bros. Auctioneers during the first quarter valued at $875,000. 86.29% of the stock is currently owned by institutional investors and hedge funds.
Ritchie Bros. Auctioneers Inc. (NYSE:RBA) traded up 5.65% during trading on Monday, hitting $37.05. 569,134 shares of the company were exchanged. Ritchie Bros. Auctioneers Inc. has a 12 month low of $21.03 and a 12 month high of $37.13. The company has a 50-day moving average of $32.26 and a 200-day moving average of $31.28. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 29.01 and a beta of 0.48.
Ritchie Bros. Auctioneers (NYSE:RBA) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the 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 earned $158.80 million during the quarter, compared to analysts’ expectations of $160.96 million. During the same period last year, the company earned $0.43 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts forecast that Ritchie Bros. Auctioneers Inc. will post $1.17 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Wednesday, August 31st. This is an increase from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. Ritchie Bros. Auctioneers’s dividend payout ratio is 53.97%.
Several research analysts recently weighed in on RBA shares. KeyCorp upgraded shares of Ritchie Bros. Auctioneers from a “sector weight” rating to an “overweight” rating and set a $34.00 price target for the company in a research report on Monday, August 15th. They noted that the move was a valuation call. OTR Global reiterated a “negative” rating on shares of Ritchie Bros. Auctioneers in a report on Friday, July 22nd. RBC Capital Markets reiterated an “outperform” rating on shares of Ritchie Bros. Auctioneers in a report on Tuesday, August 30th. Zacks Investment Research downgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a report on Thursday, July 21st. Finally, Bank of America Corp. upgraded shares of Ritchie Bros. Auctioneers from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 31st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $32.55.
In other Ritchie Bros. Auctioneers news, VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of the company’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $34.00, for a total value of $224,400.00. Following the sale, the vice president now owns 6,600 shares of the company’s stock, valued at $224,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.67% of the stock is currently owned by company insiders.
Ritchie Bros. Auctioneers Company Profile
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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