CIBC World Markets Inc. boosted its position in shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 120.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 127,501 shares of the business services provider’s stock after acquiring an additional 69,559 shares during the quarter. CIBC World Markets Inc. owned 0.12% of Ritchie Bros. Auctioneers worth $4,350,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of RBA. Armstrong Henry H Associates Inc. purchased a new stake in Ritchie Bros. Auctioneers in the first quarter worth about $203,000. We Are One Seven LLC increased its position in Ritchie Bros. Auctioneers by 533.7% in the first quarter. We Are One Seven LLC now owns 6,628 shares of the business services provider’s stock worth $209,000 after buying an additional 5,582 shares in the last quarter. Atria Investments LLC purchased a new stake in Ritchie Bros. Auctioneers in the first quarter worth about $244,000. Guggenheim Capital LLC purchased a new stake in Ritchie Bros. Auctioneers in the first quarter worth about $287,000. Finally, Comerica Bank increased its position in Ritchie Bros. Auctioneers by 32.2% in the second quarter. Comerica Bank now owns 9,453 shares of the business services provider’s stock worth $308,000 after buying an additional 2,300 shares in the last quarter. Institutional investors own 96.93% of the company’s stock.
In related news, insider Karl William Werner sold 4,757 shares of the stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $35.60, for a total transaction of $169,349.20. Following the completion of the transaction, the insider now directly owns 4,757 shares of the company’s stock, valued at $169,349.20. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.
RBA has been the subject of a number of analyst reports. ValuEngine upgraded Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Zacks Investment Research upgraded Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Wednesday, May 2nd. Barrington Research reiterated a “hold” rating on shares of Ritchie Bros. Auctioneers in a research report on Monday, May 7th. Raymond James reiterated a “hold” rating and set a $34.00 target price on shares of Ritchie Bros. Auctioneers in a research report on Monday, May 14th. Finally, Scotiabank set a $39.00 target price on Ritchie Bros. Auctioneers and gave the stock a “hold” rating in a research report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.44.
NYSE:RBA opened at $38.28 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.26 and a quick ratio of 1.13. Ritchie Bros. Auctioneers Inc has a 12-month low of $24.08 and a 12-month high of $38.54. The stock has a market cap of $4.07 billion, a P/E ratio of 47.28, a price-to-earnings-growth ratio of 2.84 and a beta of 0.67.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, August 9th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. Ritchie Bros. Auctioneers had a return on equity of 13.42% and a net margin of 12.36%. The firm had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $225.52 million. During the same quarter last year, the business posted $0.33 earnings per share. The firm’s revenue was up 24.4% on a year-over-year basis. research analysts anticipate that Ritchie Bros. Auctioneers Inc will post 1.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Investors of record on Wednesday, August 29th will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, August 28th. This represents a $0.72 annualized dividend and a dividend yield of 1.88%. This is a boost from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.17. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is currently 83.95%.
About Ritchie Bros. Auctioneers
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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