TD Asset Management Inc. trimmed its holdings in Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 4.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,644,686 shares of the business services provider’s stock after selling 79,272 shares during the quarter. TD Asset Management Inc. owned about 1.54% of Ritchie Bros. Auctioneers worth $51,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Janus Henderson Group PLC acquired a new position in shares of Ritchie Bros. Auctioneers in the 2nd quarter valued at about $175,728,000. Mondrian Investment Partners LTD lifted its stake in shares of Ritchie Bros. Auctioneers by 35.9% in the 3rd quarter. Mondrian Investment Partners LTD now owns 3,763,686 shares of the business services provider’s stock valued at $148,477,000 after purchasing an additional 994,240 shares during the period. Aberdeen Asset Management PLC UK lifted its stake in shares of Ritchie Bros. Auctioneers by 19.3% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 2,285,911 shares of the business services provider’s stock valued at $65,697,000 after purchasing an additional 369,609 shares during the period. Vanguard Group Inc. lifted its stake in shares of Ritchie Bros. Auctioneers by 24.1% in the 2nd quarter. Vanguard Group Inc. now owns 2,146,933 shares of the business services provider’s stock valued at $61,703,000 after purchasing an additional 417,392 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Ritchie Bros. Auctioneers by 43.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,806,283 shares of the business services provider’s stock valued at $57,325,000 after purchasing an additional 550,124 shares during the period. 96.87% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on the company. Scotiabank set a $34.00 price target on Ritchie Bros. Auctioneers and gave the stock an “outperform” rating in a research note on Tuesday, September 12th. Zacks Investment Research raised Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. National Bank Financial dropped their price target on Ritchie Bros. Auctioneers from $31.50 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 9th. TD Securities dropped their price target on Ritchie Bros. Auctioneers from $27.00 to $25.00 and set a “reduce” rating on the stock in a research note on Wednesday, August 9th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $33.00 price target on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, September 12th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $29.45.
In related news, CFO Sharon Ruth Driscoll acquired 1,375 shares of the stock in a transaction dated Thursday, September 7th. The stock was purchased at an average cost of $29.77 per share, with a total value of $40,933.75. Following the completion of the purchase, the chief financial officer now directly owns 1,000 shares in the company, valued at approximately $29,770. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.39% of the company’s stock.
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) traded up $0.28 during mid-day trading on Friday, reaching $25.85. The company had a trading volume of 334,418 shares, compared to its average volume of 778,354. Ritchie Bros. Auctioneers Incorporated has a fifty-two week low of $24.08 and a fifty-two week high of $39.96. The company has a current ratio of 1.20, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11. The firm has a market cap of $2,770.73, a P/E ratio of 30.77, a P/E/G ratio of 3.21 and a beta of 0.66.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Thursday, November 9th. The business services provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). The firm had revenue of $141.05 million for the quarter, compared to analyst estimates of $139.96 million. Ritchie Bros. Auctioneers had a return on equity of 13.04% and a net margin of 11.43%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.20 earnings per share. equities analysts predict that Ritchie Bros. Auctioneers Incorporated will post 0.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 29th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Tuesday, November 28th. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 111.48%.
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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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