Man Group plc boosted its position in shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 297.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 754,066 shares of the business services provider’s stock after acquiring an additional 564,233 shares during the period. Man Group plc’s holdings in Ritchie Bros. Auctioneers were worth $32,390,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NumerixS Investment Technologies Inc acquired a new position in Ritchie Bros. Auctioneers during the 4th quarter worth approximately $39,000. NEXT Financial Group Inc grew its holdings in Ritchie Bros. Auctioneers by 15.9% during the 4th quarter. NEXT Financial Group Inc now owns 4,837 shares of the business services provider’s stock worth $208,000 after acquiring an additional 662 shares in the last quarter. Wedbush Securities Inc. acquired a new position in Ritchie Bros. Auctioneers during the 4th quarter worth approximately $212,000. Atria Investments LLC acquired a new position in Ritchie Bros. Auctioneers during the 4th quarter worth approximately $224,000. Finally, Carroll Financial Associates Inc. grew its holdings in Ritchie Bros. Auctioneers by 1,469.8% during the 4th quarter. Carroll Financial Associates Inc. now owns 5,620 shares of the business services provider’s stock worth $241,000 after acquiring an additional 5,262 shares in the last quarter. Institutional investors own 91.21% of the company’s stock.
In related news, insider Todd Donald Wohler sold 16,961 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $40.49, for a total value of $686,750.89. Following the completion of the sale, the insider now owns 16,961 shares in the company, valued at approximately $686,750.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by corporate insiders.
Several research analysts have recently issued reports on RBA shares. Zacks Investment Research cut shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a report on Saturday, February 29th. National Bank Financial upgraded shares of Ritchie Bros. Auctioneers from an “underperform” rating to a “sector perform” rating and lowered their target price for the company from $37.00 to $35.00 in a report on Monday, March 16th. Barrington Research upgraded shares of Ritchie Bros. Auctioneers from a “market perform” rating to an “outperform” rating and set a $42.50 target price for the company in a report on Friday, March 20th. They noted that the move was a valuation call. TD Securities upped their target price on shares of Ritchie Bros. Auctioneers from $31.00 to $32.00 and gave the company a “reduce” rating in a report on Monday, March 2nd. Finally, William Blair restated an “outperform” rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $38.72.
Shares of Ritchie Bros. Auctioneers stock opened at $31.12 on Thursday. The company has a fifty day simple moving average of $38.68 and a 200-day simple moving average of $40.87. Ritchie Bros. Auctioneers Inc has a 12-month low of $25.92 and a 12-month high of $45.16. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 3.10 and a beta of 0.68. The company has a current ratio of 1.36, a quick ratio of 1.23 and a debt-to-equity ratio of 0.69.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Thursday, February 27th. The business services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. Ritchie Bros. Auctioneers had a net margin of 11.30% and a return on equity of 17.03%. The firm had revenue of $332.20 million during the quarter, compared to the consensus estimate of $369.82 million. During the same quarter in the prior year, the firm earned $0.32 EPS. Ritchie Bros. Auctioneers’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, analysts forecast that Ritchie Bros. Auctioneers Inc will post 1.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 14th were given a $0.20 dividend. The ex-dividend date was Thursday, February 13th. This represents a $0.80 annualized dividend and a yield of 2.57%. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is 60.15%.
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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