Royce & Associates LP raised its holdings in Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 0.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,609,963 shares of the business services provider’s stock after purchasing an additional 3,636 shares during the quarter. Royce & Associates LP’s holdings in Ritchie Bros. Auctioneers were worth $54,739,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. LPL Financial LLC raised its stake in Ritchie Bros. Auctioneers by 27.4% in the fourth quarter. LPL Financial LLC now owns 15,390 shares of the business services provider’s stock valued at $504,000 after buying an additional 3,308 shares during the period. Thrivent Financial for Lutherans bought a new stake in Ritchie Bros. Auctioneers in the fourth quarter valued at approximately $15,813,000. Dimensional Fund Advisors LP raised its stake in Ritchie Bros. Auctioneers by 10.0% in the third quarter. Dimensional Fund Advisors LP now owns 31,951 shares of the business services provider’s stock valued at $1,154,000 after buying an additional 2,900 shares during the period. CWM LLC raised its stake in Ritchie Bros. Auctioneers by 22.2% in the first quarter. CWM LLC now owns 195,558 shares of the business services provider’s stock valued at $6,649,000 after buying an additional 35,565 shares during the period. Finally, Stephens Inc. AR raised its stake in Ritchie Bros. Auctioneers by 13.6% in the fourth quarter. Stephens Inc. AR now owns 16,788 shares of the business services provider’s stock valued at $549,000 after buying an additional 2,009 shares during the period. Hedge funds and other institutional investors own 87.72% of the company’s stock.
Several analysts have issued reports on RBA shares. Bank of America set a $35.00 price objective on Ritchie Bros. Auctioneers and gave the company a “sell” rating in a research note on Friday, March 1st. Barrington Research restated a “hold” rating on shares of Ritchie Bros. Auctioneers in a research note on Thursday, March 7th. OTR Global upgraded Ritchie Bros. Auctioneers to a “positive” rating in a research note on Monday, February 4th. Royal Bank of Canada lowered their target price on Ritchie Bros. Auctioneers from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Monday, March 4th. Finally, Raymond James reiterated a “market perform” rating and set a $38.00 target price on shares of Ritchie Bros. Auctioneers in a research note on Monday, February 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $36.28.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its earnings results on Thursday, May 9th. The business services provider reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.04). The firm had revenue of $303.40 million for the quarter, compared to the consensus estimate of $268.69 million. Ritchie Bros. Auctioneers had a return on equity of 14.47% and a net margin of 10.10%. Ritchie Bros. Auctioneers’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. Analysts forecast that Ritchie Bros. Auctioneers Inc will post 1.26 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 29th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Tuesday, May 28th. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 66.67%.
About Ritchie Bros. Auctioneers
Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved live on site 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, as well as construction and heavy machinery.
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