Envestnet Asset Management Inc. reduced its position in shares of Ritchie Bros Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 6.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,169 shares of the business services provider’s stock after selling 8,103 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of Ritchie Bros Auctioneers worth $4,082,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. CGOV Asset Management raised its stake in shares of 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. Norges Bank purchased a new stake in shares of Ritchie Bros Auctioneers during the fourth quarter worth approximately $53,619,000. Columbia Wanger Asset Management LLC purchased a new stake in shares of Ritchie Bros Auctioneers during the fourth quarter worth approximately $39,406,000. KAMES CAPITAL plc purchased a new stake in shares of Ritchie Bros Auctioneers during the first quarter worth approximately $25,500,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Ritchie Bros Auctioneers during the fourth quarter worth approximately $18,305,000. Hedge funds and other institutional investors own 89.55% of the company’s stock.
Ritchie Bros Auctioneers Inc (NYSE:RBA) traded down 1.08% on Friday, reaching $31.24. The company had a trading volume of 1,474,348 shares. The company’s 50-day moving average is $31.61 and its 200-day moving average is $33.57. Ritchie Bros Auctioneers Inc has a 52-week low of $27.13 and a 52-week high of $39.96. The company has a market capitalization of $3.34 billion, a PE ratio of 45.94 and a beta of 0.62.
Ritchie Bros Auctioneers (NYSE:RBA) last posted its earnings results on Tuesday, February 21st. The business services provider reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.03. The company had revenue of $146.80 million for the quarter, compared to the consensus estimate of $133.92 million. Ritchie Bros Auctioneers had a return on equity of 17.38% and a net margin of 19.91%. Ritchie Bros Auctioneers’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 earnings per share. Equities analysts anticipate that Ritchie Bros Auctioneers Inc will post $1.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 13th. Shareholders of record on Tuesday, May 23rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 19th. This represents a $0.68 dividend on an annualized basis and a yield of 2.14%. Ritchie Bros Auctioneers’s payout ratio is 66.67%.
RBA has been the topic of a number of recent research reports. CIBC reiterated an “outperform” rating and issued a $36.00 target price on shares of Ritchie Bros Auctioneers in a research report on Thursday, April 13th. Jefferies Group LLC reiterated a “hold” rating and issued a $29.00 target price (down previously from $32.00) on shares of Ritchie Bros Auctioneers in a research report on Friday, April 14th. TD Securities reiterated a “sell” rating on shares of Ritchie Bros Auctioneers in a research report on Tuesday, April 11th. Zacks Investment Research lowered Ritchie Bros Auctioneers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 9th. Finally, William Blair restated an “outperform” rating on shares of Ritchie Bros Auctioneers in a research report on Monday, April 24th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $35.96.
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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