300,780 Shares in Ritchie Bros. Auctioneers Incorporated (RBA) Purchased by Sapience Investments LLC
Sapience Investments LLC purchased a new position in Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 300,780 shares of the business services provider’s stock, valued at approximately $8,644,000. Sapience Investments LLC owned 0.28% of Ritchie Bros. Auctioneers as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lloyds Banking Group plc boosted its holdings in Ritchie Bros. Auctioneers by 59.1% in the 2nd quarter. Lloyds Banking Group plc now owns 4,456 shares of the business services provider’s stock worth $128,000 after acquiring an additional 1,656 shares during the period. FNY Managed Accounts LLC acquired a new position in shares of Ritchie Bros. Auctioneers in the 1st quarter valued at approximately $176,000. First Bank & Trust raised its position in shares of 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 purchasing an additional 196 shares in the last quarter. Forward Management LLC raised its position in shares of 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 purchasing an additional 609 shares in the last quarter. Finally, World Asset Management Inc raised its position in shares of Ritchie Bros. Auctioneers by 0.7% in the 1st quarter. World Asset Management Inc now owns 6,613 shares of the business services provider’s stock valued at $218,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 96.01% of the company’s stock.
RBA has been the topic of a number of recent analyst reports. Raymond James Financial, Inc. cut their target price on Ritchie Bros. Auctioneers from $33.50 to $29.50 and set a “market perform” rating on the stock in a research report on Tuesday, July 11th. Scotiabank cut their target price on Ritchie Bros. Auctioneers from $39.00 to $32.00 and set an “outperform” rating on the stock in a research report on Monday, July 10th. BidaskClub raised Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. CIBC lowered Ritchie Bros. Auctioneers from a “sector outperform” rating to a “sector perform” rating and set a $28.00 target price on the stock. in a research report on Monday, July 10th. Finally, TD Securities cut their target price on Ritchie Bros. Auctioneers from $28.00 to $27.00 and set a “reduce” rating on the stock in a research report on Monday, July 10th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.82.
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Ritchie Bros. Auctioneers Incorporated (RBA) traded up 2.37% during midday trading on Friday, hitting $31.47. The company had a trading volume of 327,346 shares. The company’s 50 day moving average is $28.90 and its 200-day moving average is $30.19. The company has a market cap of $3.37 billion, a P/E ratio of 68.12 and a beta of 0.57. Ritchie Bros. Auctioneers Incorporated has a one year low of $26.68 and a one year high of $39.96.
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 Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $161.85 million. During the same quarter last year, the firm earned $0.37 EPS. Ritchie Bros. Auctioneers’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts predict 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. Stockholders of record on Friday, August 25th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Wednesday, August 23rd. Ritchie Bros. Auctioneers’s payout ratio is presently 144.68%.
In other news, CFO Sharon Ruth Driscoll acquired 1,000 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were bought at an average price of $28.59 per share, with a total value of $28,590.00. Following the acquisition, the chief financial officer now owns 1,000 shares of the company’s stock, valued at $28,590. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by company insiders.
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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