CIBC World Markets Inc. cut its stake in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 24.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,688 shares of the business services provider’s stock after selling 21,652 shares during the quarter. CIBC World Markets Inc. owned about 0.06% of Ritchie Bros. Auctioneers worth $1,945,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. World Asset Management Inc grew its stake in shares of Ritchie Bros. Auctioneers by 0.7% during the 1st quarter. World Asset Management Inc now owns 6,613 shares of the business services provider’s stock worth $218,000 after purchasing an additional 43 shares during the period. Comerica Bank grew its stake in Ritchie Bros. Auctioneers by 0.7% in the 1st quarter. Comerica Bank now owns 6,737 shares of the business services provider’s stock valued at $221,000 after acquiring an additional 44 shares during the last quarter. First Bank & Trust grew its stake in Ritchie Bros. Auctioneers by 3.8% in the 2nd quarter. First Bank & Trust now owns 5,387 shares of the business services provider’s stock valued at $155,000 after acquiring an additional 196 shares during the last quarter. Suntrust Banks Inc. grew its stake in Ritchie Bros. Auctioneers by 2.3% in the 1st quarter. Suntrust Banks Inc. now owns 11,159 shares of the business services provider’s stock valued at $367,000 after acquiring an additional 256 shares during the last quarter. Finally, Forward Management LLC grew its stake in Ritchie Bros. Auctioneers by 11.0% in the 2nd quarter. Forward Management LLC now owns 6,137 shares of the business services provider’s stock valued at $176,000 after acquiring an additional 609 shares during the last quarter. 96.14% of the stock is currently owned by institutional investors and hedge funds.

Ritchie Bros. Auctioneers Incorporated (NYSE RBA) opened at 30.29 on Wednesday. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 65.56 and a beta of 0.57. The firm has a 50-day moving average of $28.56 and a 200-day moving average of $30.32. Ritchie Bros. Auctioneers Incorporated has a 12-month low of $26.68 and a 12-month high of $39.96.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. The firm had revenue of $166.20 million for the quarter, compared to analysts’ expectations of $161.85 million. Ritchie Bros. Auctioneers had a return on equity of 14.72% and a net margin of 8.96%. Ritchie Bros. Auctioneers’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS. Equities research analysts forecast that Ritchie Bros. Auctioneers Incorporated will post $0.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.24%. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 144.68%.

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A number of equities research analysts recently commented on RBA shares. National Bank Financial reissued a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a research note on Thursday, June 29th. CIBC cut shares of Ritchie Bros. Auctioneers from a “sector outperform” rating to a “sector perform” rating and set a $28.00 price objective on the stock. in a research note on Monday, July 10th. Scotiabank set a $34.00 price objective on shares of Ritchie Bros. Auctioneers and gave the company an “outperform” rating in a research note on Tuesday. Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, TD Securities lowered their price objective on shares of Ritchie Bros. Auctioneers from $27.00 to $25.00 and set a “reduce” rating on the stock in a research note on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $32.82.

In related news, CFO Sharon Ruth Driscoll purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were purchased at an average price of $28.59 per share, with a total value of $28,590.00. Following the purchase, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $28,590. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.39% of the company’s stock.

Ritchie Bros. Auctioneers Company 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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Institutional Ownership by Quarter for Ritchie Bros. Auctioneers (NYSE:RBA)

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