Janney Montgomery Scott LLC raised its stake in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 23.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,365 shares of the business services provider’s stock after buying an additional 4,935 shares during the period. Janney Montgomery Scott LLC’s holdings in Ritchie Bros. Auctioneers were worth $1,562,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of RBA. CIBC Asset Management Inc increased its stake in shares of Ritchie Bros. Auctioneers by 1.7% in the third quarter. CIBC Asset Management Inc now owns 74,614 shares of the business services provider’s stock worth $4,422,000 after acquiring an additional 1,282 shares during the last quarter. Wells Fargo & Company MN increased its position in Ritchie Bros. Auctioneers by 2.3% in the 3rd quarter. Wells Fargo & Company MN now owns 87,015 shares of the business services provider’s stock worth $5,155,000 after purchasing an additional 1,924 shares during the last quarter. Bell Bank raised its stake in shares of Ritchie Bros. Auctioneers by 3.9% during the 3rd quarter. Bell Bank now owns 22,715 shares of the business services provider’s stock worth $1,346,000 after purchasing an additional 855 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Ritchie Bros. Auctioneers by 0.8% during the 3rd quarter. Raymond James & Associates now owns 105,783 shares of the business services provider’s stock valued at $6,271,000 after buying an additional 860 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Ritchie Bros. Auctioneers by 57.1% in the 3rd quarter. Signaturefd LLC now owns 429 shares of the business services provider’s stock valued at $25,000 after buying an additional 156 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.
In related news, Director Christopher Zimmerman sold 6,126 shares of the business’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $68.18, for a total transaction of $417,670.68. Following the transaction, the director now directly owns 730 shares in the company, valued at $49,771.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.83% of the stock is currently owned by company insiders.
Shares of RBA stock opened at $66.42 on Friday. Ritchie Bros. Auctioneers Incorporated has a 12 month low of $25.92 and a 12 month high of $78.64. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.68. The firm has a market cap of $7.26 billion, a PE ratio of 47.44, a price-to-earnings-growth ratio of 5.90 and a beta of 1.08. The stock has a 50 day moving average of $63.91 and a 200-day moving average of $52.19.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its earnings results on Thursday, November 5th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.14. Ritchie Bros. Auctioneers had a net margin of 11.89% and a return on equity of 17.77%. The business had revenue of $331.54 million for the quarter, compared to analyst estimates of $305.71 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Ritchie Bros. Auctioneers’s revenue was up 14.4% compared to the same quarter last year. As a group, equities analysts predict that Ritchie Bros. Auctioneers Incorporated will post 1.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, November 25th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Tuesday, November 24th. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 66.17%.
A number of analysts have issued reports on RBA shares. Zacks Investment Research upgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Saturday, August 8th. Scotiabank reissued a “buy” rating and set a $80.00 target price on shares of Ritchie Bros. Auctioneers in a research report on Wednesday, November 11th. Barrington Research cut Ritchie Bros. Auctioneers from an “outperform” rating to a “market perform” rating in a research report on Friday, August 21st. Raymond James increased their price objective on Ritchie Bros. Auctioneers from $53.00 to $75.00 and gave the company a “market perform” rating in a report on Monday, November 9th. Finally, TD Securities raised their price objective on Ritchie Bros. Auctioneers from $56.00 to $65.00 and gave the company a “hold” rating in a research note on Friday, October 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $59.56.
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.
Recommended Story: Short Selling
Receive News & Ratings for Ritchie Bros. Auctioneers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ritchie Bros. Auctioneers and related companies with MarketBeat.com's FREE daily email newsletter.