Forward Management LLC boosted its position in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 11.0% during the second quarter, Holdings Channel reports. The fund owned 6,137 shares of the business services provider’s stock after buying an additional 609 shares during the period. Forward Management LLC’s holdings in Ritchie Bros. Auctioneers were worth $176,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. First Bank & Trust raised its stake in shares of Ritchie Bros. Auctioneers by 3.8% in 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. FNY Managed Accounts LLC purchased a new stake in shares of Ritchie Bros. Auctioneers during the first quarter worth $176,000. World Asset Management Inc raised its stake in shares of Ritchie Bros. Auctioneers by 0.7% in 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. Comerica Bank raised its stake in shares of Ritchie Bros. Auctioneers by 0.7% in the first quarter. Comerica Bank now owns 6,737 shares of the business services provider’s stock worth $221,000 after buying an additional 44 shares during the last quarter. Finally, Cipher Capital LP purchased a new stake in shares of Ritchie Bros. Auctioneers during the first quarter worth $260,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

Shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) opened at 27.10 on Friday. The company’s 50-day moving average is $28.18 and its 200 day moving average is $30.79. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 39.85 and a beta of 0.55. Ritchie Bros. Auctioneers Incorporated has a 52 week low of $26.68 and a 52 week high of $39.96.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the 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 net margin of 8.96% and a return on equity of 14.72%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share. Analysts anticipate that Ritchie Bros. Auctioneers Incorporated will post $1.05 EPS 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 issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.68 annualized dividend and a yield of 2.51%. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 144.68%.

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A number of equities research analysts have recently weighed in on the stock. Scotiabank reduced their price objective on shares of Ritchie Bros. Auctioneers from $39.00 to $32.00 and set an “outperform” rating on the stock in a report on Monday, July 10th. BidaskClub lowered shares of Ritchie Bros. Auctioneers from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. William Blair restated an “outperform” rating on shares of Ritchie Bros. Auctioneers in a report on Monday, April 24th. Royal Bank Of Canada set a $41.00 price objective on shares of Ritchie Bros. Auctioneers and gave the company a “buy” rating in a report on Saturday, April 22nd. Finally, Raymond James Financial, Inc. reduced their price objective on shares of Ritchie Bros. Auctioneers from $33.50 to $29.50 and set a “market perform” rating on the stock in a report on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $33.46.

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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