Baillie Gifford & Co. trimmed its position in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,581,091 shares of the business services provider’s stock after selling 131,290 shares during the period. Baillie Gifford & Co. owned 10.82% of Ritchie Bros. Auctioneers worth $332,728,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Lloyds Banking Group plc increased its holdings in Ritchie Bros. Auctioneers by 59.1% during the second quarter. Lloyds Banking Group plc now owns 4,456 shares of the business services provider’s stock worth $128,000 after buying an additional 1,656 shares during the last quarter. FNY Managed Accounts LLC acquired a new position in Ritchie Bros. Auctioneers during the first quarter worth $176,000. First Bank & Trust increased its holdings in Ritchie Bros. Auctioneers by 3.8% during the second quarter. First Bank & Trust now owns 5,387 shares of the business services provider’s stock worth $155,000 after buying an additional 196 shares during the last quarter. Forward Management LLC increased its holdings in Ritchie Bros. Auctioneers by 11.0% during the second quarter. Forward Management LLC now owns 6,137 shares of the business services provider’s stock worth $176,000 after buying an additional 609 shares during the last quarter. Finally, World Asset Management Inc increased its holdings in Ritchie Bros. Auctioneers by 0.7% during the first quarter. World Asset Management Inc now owns 6,613 shares of the business services provider’s stock worth $218,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 96.14% of the company’s stock.
A number of equities analysts have commented on RBA shares. BidaskClub raised shares of Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Scotiabank set a $34.00 price objective on shares of Ritchie Bros. Auctioneers and gave the stock an “outperform” rating in a research report on Tuesday, September 12th. Robert W. Baird reaffirmed a “buy” rating and set a $33.00 price objective on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, September 12th. National Bank Financial reduced their price objective on shares of Ritchie Bros. Auctioneers from $31.50 to $30.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 9th. Finally, TD Securities reduced their price objective on shares of Ritchie Bros. Auctioneers from $27.00 to $25.00 and set a “reduce” rating for the company in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $32.82.
Shares of Ritchie Bros. Auctioneers Incorporated (NYSE RBA) traded up 0.03% during midday trading on Friday, hitting $30.42. 645,841 shares of the stock were exchanged. Ritchie Bros. Auctioneers Incorporated has a 1-year low of $26.68 and a 1-year high of $39.96. The stock’s 50-day moving average price is $28.78 and its 200-day moving average price is $30.26. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 65.84 and a beta of 0.57.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. Ritchie Bros. Auctioneers had a return on equity of 14.72% and a net margin of 8.96%. The company had revenue of $166.20 million during the quarter, compared to analyst estimates of $161.85 million. During the same quarter last year, the firm posted $0.37 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts forecast that Ritchie Bros. Auctioneers Incorporated will post $0.82 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.24%. The ex-dividend date was Wednesday, August 23rd. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is currently 144.68%.
In related news, CFO Sharon Ruth Driscoll bought 1,000 shares of the business’s stock in a transaction on Friday, August 25th. The stock was acquired at an average price of $28.59 per share, for a total transaction of $28,590.00. Following the purchase, the chief financial officer now directly owns 1,000 shares in the company, valued at $28,590. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.39% of the company’s stock.
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Ritchie Bros. Auctioneers Profile
Ritchie Bros Auctioneers Inc is a Canada-based holding company. The Company is an industrial auctioneer and used equipment distributor, selling used equipment and other assets. Its segments include Core Auction, which is a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding, and Other, which includes its EquipmentOne and Mascus International Holding B.V.
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