Tobam boosted its position in shares of Ritchie Bros Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 20.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 115,800 shares of the business services provider’s stock after buying an additional 19,700 shares during the period. Tobam owned approximately 0.11% of Ritchie Bros Auctioneers worth $3,801,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Great West Life Assurance Co. Can raised its stake in shares of Ritchie Bros Auctioneers by 1,879.5% in the third quarter. Great West Life Assurance Co. Can now owns 389,270 shares of the business services provider’s stock worth $13,650,000 after buying an additional 369,605 shares in the last quarter. Marathon Asset Management LLP purchased a new stake in shares of Ritchie Bros Auctioneers during the third quarter worth about $26,824,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Ritchie Bros Auctioneers by 1.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 373,113 shares of the business services provider’s stock worth $13,085,000 after buying an additional 4,160 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of Ritchie Bros Auctioneers by 1,294.1% in the third quarter. Citadel Advisors LLC now owns 103,162 shares of the business services provider’s stock worth $3,618,000 after buying an additional 95,762 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ritchie Bros Auctioneers by 87.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,220 shares of the business services provider’s stock worth $323,000 after buying an additional 4,298 shares in the last quarter. 89.55% of the stock is owned by hedge funds and other institutional investors.
Ritchie Bros Auctioneers Inc (NYSE:RBA) traded down 1.08% on Friday, hitting $31.24. 1,474,348 shares of the stock traded hands. The firm’s 50-day moving average price is $31.57 and its 200-day moving average price is $33.55. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 45.94 and a beta of 0.62. Ritchie Bros Auctioneers Inc has a 12-month low of $27.13 and a 12-month high of $39.96.
Ritchie Bros Auctioneers (NYSE:RBA) last issued its earnings results on Tuesday, February 21st. The business services provider reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.03. Ritchie Bros Auctioneers had a return on equity of 17.38% and a net margin of 19.91%. The business had revenue of $146.80 million during the quarter, compared to analysts’ expectations of $133.92 million. During the same quarter in the previous year, the business earned $0.29 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities research 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. Stockholders of record on Tuesday, May 23rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, May 19th. Ritchie Bros Auctioneers’s payout ratio is currently 66.67%.
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A number of equities research analysts recently issued reports on RBA shares. TD Securities reissued a “sell” rating on shares of Ritchie Bros Auctioneers in a report on Tuesday, April 11th. CIBC reissued an “outperform” rating and issued a $36.00 price objective on shares of Ritchie Bros Auctioneers in a report on Thursday, April 13th. Jefferies Group LLC reaffirmed a “hold” rating and set a $29.00 target price (down previously from $32.00) on shares of Ritchie Bros Auctioneers in a research note on Friday, April 14th. Royal Bank of Canada set a $41.00 target price on shares of Ritchie Bros Auctioneers and gave the stock a “buy” rating in a research note on Saturday, April 22nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Ritchie Bros Auctioneers in a research note on Monday, April 24th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $35.96.
About Ritchie Bros Auctioneers
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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