Manchester Capital Management LLC bought a new position in Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) in the first quarter, HoldingsChannel reports. The firm bought 996 shares of the business services provider’s stock, valued at approximately $34,000.

Several other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of Ritchie Bros. Auctioneers by 8.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 40,967 shares of the business services provider’s stock valued at $1,480,000 after buying an additional 3,119 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Ritchie Bros. Auctioneers by 10.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 31,951 shares of the business services provider’s stock valued at $1,154,000 after acquiring an additional 2,900 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Ritchie Bros. Auctioneers by 1,900.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 119,895 shares of the business services provider’s stock valued at $4,332,000 after acquiring an additional 113,902 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Ritchie Bros. Auctioneers by 6.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,686,036 shares of the business services provider’s stock valued at $97,046,000 after acquiring an additional 174,262 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Ritchie Bros. Auctioneers by 4.0% during the 3rd quarter. Legal & General Group Plc now owns 25,061 shares of the business services provider’s stock valued at $904,000 after acquiring an additional 953 shares in the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

NYSE:RBA opened at $33.81 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. The firm has a market cap of $3.68 billion, a P/E ratio of 31.31, a price-to-earnings-growth ratio of 3.82 and a beta of 0.79. Ritchie Bros. Auctioneers Inc has a twelve month low of $30.76 and a twelve month high of $38.77.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Ritchie Bros. Auctioneers had a return on equity of 14.47% and a net margin of 10.10%. The firm had revenue of $303.40 million during the quarter, compared to analyst estimates of $268.69 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. Sell-side analysts forecast that Ritchie Bros. Auctioneers Inc will post 1.26 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 29th will be issued a $0.18 dividend. The ex-dividend date is Tuesday, May 28th. This represents a $0.72 dividend on an annualized basis and a yield of 2.13%. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 66.67%.

RBA has been the topic of several recent research reports. OTR Global upgraded shares of Ritchie Bros. Auctioneers to a “positive” rating in a report on Monday, February 4th. Raymond James restated a “market perform” rating and set a $38.00 target price on shares of Ritchie Bros. Auctioneers in a report on Monday, February 25th. Bank of America set a $35.00 target price on shares of Ritchie Bros. Auctioneers and gave the company a “sell” rating in a report on Friday, March 1st. Royal Bank of Canada reduced their target price on shares of Ritchie Bros. Auctioneers from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Monday, March 4th. Finally, TD Securities lifted their target price on shares of Ritchie Bros. Auctioneers from $28.00 to $30.00 and gave the company a “reduce” rating in a report on Tuesday, March 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $36.28.

WARNING: This piece was posted by Daily Political and is the property of of Daily Political. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this piece can be accessed at https://www.dailypolitical.com/2019/05/25/manchester-capital-management-llc-buys-shares-of-996-ritchie-bros-auctioneers-inc-rba.html.

About Ritchie Bros. Auctioneers

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved live on site 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, as well as construction and heavy machinery.

See Also: What does cost of debt say about a company’s financial health?

Want to see what other hedge funds are holding RBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA).

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

Receive News & Ratings for Ritchie Bros. Auctioneers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ritchie Bros. Auctioneers and related companies with MarketBeat.com's FREE daily email newsletter.