Northern Trust Corp boosted its stake in Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 38.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 226,779 shares of the business services provider’s stock after purchasing an additional 63,209 shares during the quarter. Northern Trust Corp owned about 0.21% of Ritchie Bros. Auctioneers worth $6,517,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. D.A. Davidson & CO. lifted its stake in Ritchie Bros. Auctioneers by 10.6% in the 2nd quarter. D.A. Davidson & CO. now owns 11,053 shares of the business services provider’s stock worth $317,000 after purchasing an additional 1,059 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Ritchie Bros. Auctioneers by 47.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 38,247 shares of the business services provider’s stock worth $1,099,000 after purchasing an additional 12,337 shares in the last quarter. Nicholas Company Inc. lifted its stake in Ritchie Bros. Auctioneers by 332.7% in the 2nd quarter. Nicholas Company Inc. now owns 154,595 shares of the business services provider’s stock worth $4,443,000 after purchasing an additional 118,865 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Ritchie Bros. Auctioneers by 148.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,256,159 shares of the business services provider’s stock worth $35,631,000 after purchasing an additional 750,038 shares in the last quarter. Finally, Stephens Inc. AR lifted its stake in Ritchie Bros. Auctioneers by 8.4% in the 2nd quarter. Stephens Inc. AR now owns 8,296 shares of the business services provider’s stock worth $238,000 after purchasing an additional 642 shares in the last quarter. Institutional investors and hedge funds own 96.01% of the company’s stock.

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Several analysts have commented on the stock. Scotiabank set a $34.00 price target on shares of Ritchie Bros. Auctioneers and gave the stock an “outperform” rating in a research note on Tuesday, September 12th. Robert W. Baird reiterated a “buy” rating and issued a $33.00 price target on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, September 12th. National Bank Financial decreased their price target on shares of Ritchie Bros. Auctioneers from $31.50 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 9th. TD Securities decreased their price target 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. Finally, Royal Bank Of Canada set a $40.00 price target on shares of Ritchie Bros. Auctioneers and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Four equities research 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’s stock. Ritchie Bros. Auctioneers presently has a consensus rating of “Hold” and an average price target of $30.06.

Shares of Ritchie Bros. Auctioneers Incorporated (RBA) opened at $25.11 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11. The stock has a market cap of $2,718.21, a PE ratio of 30.19, a PEG ratio of 2.93 and a beta of 0.66. Ritchie Bros. Auctioneers Incorporated has a 1 year low of $24.07 and a 1 year high of $39.96.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Thursday, November 9th. The business services provider reported $0.09 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.05). The firm had revenue of $141.05 million for the quarter, compared to the consensus estimate of $139.96 million. Ritchie Bros. Auctioneers had a net margin of 11.43% and a return on equity of 13.04%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.20 earnings per share. sell-side analysts anticipate that Ritchie Bros. Auctioneers Incorporated will post 0.91 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, November 29th will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 28th. This represents a $0.68 annualized dividend and a yield of 2.71%. Ritchie Bros. Auctioneers’s payout ratio is 111.48%.

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

About Ritchie Bros. Auctioneers

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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