PNC Financial Services Group Inc. lifted its holdings in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 47.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,247 shares of the business services provider’s stock after purchasing an additional 12,337 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ritchie Bros. Auctioneers were worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Morgan Stanley grew its holdings in shares of Ritchie Bros. Auctioneers by 1.7% during the 1st quarter. Morgan Stanley now owns 451,080 shares of the business services provider’s stock worth $14,841,000 after purchasing an additional 7,478 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Ritchie Bros. Auctioneers by 2,029.1% during the 1st quarter. Mackenzie Financial Corp now owns 480,485 shares of the business services provider’s stock worth $15,808,000 after purchasing an additional 457,917 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Ritchie Bros. Auctioneers by 3.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 116,601 shares of the business services provider’s stock worth $3,351,000 after purchasing an additional 3,601 shares during the period. Bradley Foster & Sargent Inc. CT purchased a new position in shares of Ritchie Bros. Auctioneers during the 2nd quarter worth $3,937,000. Finally, Nicholas Company Inc. grew its holdings in shares of Ritchie Bros. Auctioneers by 332.7% during 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 during the period. Institutional investors and hedge funds own 96.01% of the company’s stock.

Ritchie Bros. Auctioneers Incorporated (NYSE RBA) opened at 29.65 on Monday. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 64.60 and a beta of 0.57. Ritchie Bros. Auctioneers Incorporated has a 1-year low of $26.68 and a 1-year high of $39.96. The company’s 50-day moving average price is $29.98 and its 200 day moving average price is $30.15.

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 Zacks’ 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 firm had revenue of $166.20 million during the quarter, compared to the consensus estimate of $161.85 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts expect that Ritchie Bros. Auctioneers Incorporated will post $0.85 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Wednesday, August 23rd. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 144.68%.

RBA has been the subject of a number of research analyst reports. BidaskClub cut Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Royal Bank Of Canada set a $40.00 price target on Ritchie Bros. Auctioneers and gave the stock a “buy” rating in a report on Wednesday, August 9th. Scotiabank set a $34.00 price target on Ritchie Bros. Auctioneers and gave the stock an “outperform” rating in a report on Tuesday, September 12th. Jefferies Group LLC reiterated a “hold” rating and set a $29.00 price target on shares of Ritchie Bros. Auctioneers in a report on Friday, July 14th. Finally, Zacks Investment Research upgraded Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a report on Saturday, July 8th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $31.90.

In other news, CFO Sharon Ruth Driscoll purchased 1,375 shares of the stock in a transaction on Thursday, September 7th. The stock was purchased at an average price of $29.77 per share, with a total value of $40,933.75. Following the completion of the transaction, the chief financial officer now owns 1,000 shares in the company, valued at $29,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is currently owned by insiders.

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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.

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

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