Forsta AP Fonden Acquires New Position in Ritchie Bros. Auctioneers Incorporated (NYSE:RBA)

Forsta AP Fonden acquired a new stake in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) during the second quarter, Holdings Channel.com reports. The fund acquired 56,600 shares of the business services provider’s stock, valued at approximately $3,359,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fiera Capital Corp grew its position in Ritchie Bros. Auctioneers by 3.6% during the second quarter. Fiera Capital Corp now owns 2,405,886 shares of the business services provider’s stock valued at $97,660,000 after purchasing an additional 84,102 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Ritchie Bros. Auctioneers by 16.9% in the second quarter. Envestnet Asset Management Inc. now owns 499,193 shares of the business services provider’s stock worth $29,592,000 after acquiring an additional 72,165 shares in the last quarter. Russell Investments Group Ltd. grew its position in Ritchie Bros. Auctioneers by 260.9% in the first quarter. Russell Investments Group Ltd. now owns 89,245 shares of the business services provider’s stock worth $5,223,000 after acquiring an additional 64,519 shares in the last quarter. Park Avenue Securities LLC grew its position in Ritchie Bros. Auctioneers by 14.3% in the second quarter. Park Avenue Securities LLC now owns 20,994 shares of the business services provider’s stock worth $1,245,000 after acquiring an additional 2,619 shares in the last quarter. Finally, Diversified Trust Co grew its position in Ritchie Bros. Auctioneers by 129.5% in the first quarter. Diversified Trust Co now owns 11,247 shares of the business services provider’s stock worth $659,000 after acquiring an additional 6,347 shares in the last quarter. 80.89% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider James J. Jeter sold 7,250 shares of the firm’s stock in a transaction dated Monday, August 16th. The shares were sold at an average price of $62.90, for a total transaction of $456,025.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Matthew Ackley sold 2,000 shares of the stock in a transaction dated Wednesday, August 11th. The stock was sold at an average price of $60.25, for a total transaction of $120,500.00. Following the completion of the transaction, the chief marketing officer now directly owns 19,510 shares of the company’s stock, valued at approximately $1,175,477.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,445 shares of company stock valued at $1,701,154. Corporate insiders own 0.54% of the company’s stock.

Shares of NYSE RBA traded up $0.31 during trading hours on Thursday, hitting $62.73. 5,674 shares of the stock were exchanged, compared to its average volume of 592,434. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.16 and a quick ratio of 1.04. The company’s 50 day moving average is $61.26 and its 200 day moving average is $60.68. The firm has a market capitalization of $6.93 billion, a P/E ratio of 37.83, a P/E/G ratio of 5.41 and a beta of 1.18. Ritchie Bros. Auctioneers Incorporated has a one year low of $50.61 and a one year high of $78.64.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Wednesday, August 4th. The business services provider reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.06). The company had revenue of $396.36 million for the quarter, compared to analyst estimates of $418.80 million. Ritchie Bros. Auctioneers had a net margin of 12.70% and a return on equity of 18.95%. Research analysts anticipate that Ritchie Bros. Auctioneers Incorporated will post 1.72 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, August 25th were paid a dividend of $0.25 per share. This is a boost from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, August 24th. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 59.52%.

Several analysts have commented on RBA shares. TD Securities decreased their target price on shares of Ritchie Bros. Auctioneers from $67.00 to $64.00 and set a “hold” rating for the company in a research report on Monday, August 16th. William Blair downgraded shares of Ritchie Bros. Auctioneers from an “outperform” rating to a “market perform” rating in a research report on Monday, August 9th. Zacks Investment Research downgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 14th. Raymond James decreased their target price on shares of Ritchie Bros. Auctioneers from $65.00 to $63.00 and set a “market perform” rating for the company in a research report on Friday, August 6th. Finally, Royal Bank of Canada started coverage on shares of Ritchie Bros. Auctioneers in a report on Monday. They set a “sector perform” rating and a $65.00 price objective for the company. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $64.43.

Ritchie Bros. Auctioneers Company Profile

Ritchie Bros. Auctioneers, Inc is an industrial auctioneer, which engages in the sale of equipment to on-site and online bidders. It operates through the following segments: Auctions and Marketplaces, Ritchie Bros. Financial Services and Mascus. The Auctions and Marketplaces segment consists of live on site auctions, online auctions and marketplaces, and brokerage service.

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

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