Oppenheimer & Co. Inc. bought a new stake in shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,059 shares of the business services provider’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Baillie Gifford & Co. grew its position in Ritchie Bros. Auctioneers by 2.0% during the second quarter. Baillie Gifford & Co. now owns 11,224,012 shares of the business services provider’s stock valued at $382,894,000 after buying an additional 225,091 shares during the period. Massachusetts Financial Services Co. MA grew its position in Ritchie Bros. Auctioneers by 10.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,608,193 shares of the business services provider’s stock valued at $259,592,000 after buying an additional 722,199 shares during the period. Champlain Investment Partners LLC grew its position in Ritchie Bros. Auctioneers by 3.1% during the first quarter. Champlain Investment Partners LLC now owns 6,290,910 shares of the business services provider’s stock valued at $197,975,000 after buying an additional 190,325 shares during the period. Fiera Capital Corp grew its position in Ritchie Bros. Auctioneers by 8,475.2% during the second quarter. Fiera Capital Corp now owns 2,709,764 shares of the business services provider’s stock valued at $92,435,000 after buying an additional 2,678,164 shares during the period. Finally, Marathon Asset Management LLP grew its position in Ritchie Bros. Auctioneers by 0.6% during the second quarter. Marathon Asset Management LLP now owns 1,927,770 shares of the business services provider’s stock valued at $65,703,000 after buying an additional 10,725 shares during the period. Institutional investors own 96.96% of the company’s stock.

RBA opened at $37.85 on Thursday. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 40.54, a PEG ratio of 2.64 and a beta of 0.71. Ritchie Bros. Auctioneers Inc has a 1-year low of $24.08 and a 1-year high of $38.77. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.26 and a quick ratio of 1.13.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Thursday, August 9th. The business services provider reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.06. The business had revenue of $206.80 million during the quarter, compared to analyst estimates of $225.52 million. Ritchie Bros. Auctioneers had a net margin of 12.36% and a return on equity of 13.42%. The company’s revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. equities research analysts anticipate that Ritchie Bros. Auctioneers Inc will post 1.1 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Wednesday, August 29th will be given a $0.18 dividend. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, August 28th. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 88.89%.

In related news, SVP Kieran Colquhoun Holm sold 13,240 shares of the company’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $38.24, for a total transaction of $506,297.60. Following the completion of the transaction, the senior vice president now owns 11,278 shares in the company, valued at $431,270.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Several analysts recently issued reports on RBA shares. ValuEngine upgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. National Bank Financial upped their price target on shares of Ritchie Bros. Auctioneers from $35.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Monday, August 13th. Howard Weil lowered shares of Ritchie Bros. Auctioneers from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, June 27th. Zacks Investment Research lowered shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research report on Friday, August 31st. Finally, Scotiabank lowered shares of Ritchie Bros. Auctioneers from an “outperform” rating to a “sector perform” rating in a research report on Thursday, June 28th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $36.33.

About Ritchie Bros. Auctioneers

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved auctions, online marketplaces, listing services, and private brokerage services. The company sells a range of used and unused equipment, including earthmoving equipment, truck trailers, government surplus, oil and gas equipment, and other industrial assets.

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

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