Intact Investment Management Inc. Sells 50,180 Shares of Ritchie Bros. Auctioneers Inc (RBA)

Intact Investment Management Inc. decreased its position in shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 81.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,700 shares of the business services provider’s stock after selling 50,180 shares during the quarter. Intact Investment Management Inc.’s holdings in Ritchie Bros. Auctioneers were worth $544,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RBA. Wells Fargo & Company MN boosted its holdings in shares of Ritchie Bros. Auctioneers by 75.8% during the 1st quarter. Wells Fargo & Company MN now owns 35,665 shares of the business services provider’s stock valued at $1,122,000 after acquiring an additional 15,383 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Ritchie Bros. Auctioneers by 2.1% during the 1st quarter. Northern Trust Corp now owns 253,056 shares of the business services provider’s stock valued at $7,964,000 after acquiring an additional 5,317 shares in the last quarter. UBS Group AG boosted its holdings in shares of Ritchie Bros. Auctioneers by 20.5% during the 1st quarter. UBS Group AG now owns 48,585 shares of the business services provider’s stock valued at $1,529,000 after acquiring an additional 8,281 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Ritchie Bros. Auctioneers by 43.5% during the 1st quarter. LPL Financial LLC now owns 15,621 shares of the business services provider’s stock valued at $492,000 after acquiring an additional 4,736 shares in the last quarter. Finally, Guggenheim Capital LLC acquired a new stake in shares of Ritchie Bros. Auctioneers during the 1st quarter valued at $287,000. 93.83% of the stock is currently owned by institutional investors.

In other Ritchie Bros. Auctioneers news, SVP Kieran Colquhoun Holm sold 13,240 shares of Ritchie Bros. Auctioneers stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $38.24, for a total transaction of $506,297.60. Following the transaction, the senior vice president now directly owns 11,278 shares of the company’s stock, valued at approximately $431,270.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.

Shares of RBA opened at $33.03 on Wednesday. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 34.51, a P/E/G ratio of 2.25 and a beta of 0.69. Ritchie Bros. Auctioneers Inc has a 12 month low of $24.08 and a 12 month high of $38.77. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.26.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its earnings results on Thursday, August 9th. The business services provider reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. The firm had revenue of $206.80 million for the quarter, compared to the consensus estimate of $225.52 million. Ritchie Bros. Auctioneers had a return on equity of 13.42% and a net margin of 12.36%. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. On average, equities research analysts forecast that Ritchie Bros. Auctioneers Inc will post 1.1 EPS for the current year.

Several equities research analysts recently weighed in on the company. Zacks Investment Research raised Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Wednesday, August 22nd. National Bank Financial raised their price objective on Ritchie Bros. Auctioneers from $35.00 to $39.00 and gave the company a “sector perform” rating in a report on Monday, August 13th. Raymond James lifted their target price on Ritchie Bros. Auctioneers from $34.00 to $38.00 and gave the stock a “market perform” rating in a report on Monday, August 13th. Scotiabank set a $39.00 target price on Ritchie Bros. Auctioneers and gave the stock a “hold” rating in a report on Monday, August 13th. Finally, Royal Bank of Canada lifted their target price on Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Monday, August 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $36.11.

Ritchie Bros. Auctioneers Company Profile

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved auctions, online marketplaces, listing services, and private brokerage services. The company sells a range of used and unused equipment, including earthmoving equipment, truck trailers, government surplus, oil and gas equipment, and other industrial assets.

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Institutional Ownership by Quarter for Ritchie Bros. Auctioneers (NYSE:RBA)

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