Ritchie Bros. Auctioneers Inc (NYSE:RBA) Position Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 32.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,356 shares of the business services provider’s stock after buying an additional 20,029 shares during the period. Bank of New York Mellon Corp owned approximately 0.08% of Ritchie Bros. Auctioneers worth $2,736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in shares of Ritchie Bros. Auctioneers by 4.2% in the 1st quarter. JPMorgan Chase & Co. now owns 186,977 shares of the business services provider’s stock worth $6,357,000 after acquiring an additional 7,456 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Ritchie Bros. Auctioneers by 8.9% in the 1st quarter. New York State Common Retirement Fund now owns 156,993 shares of the business services provider’s stock worth $5,338,000 after acquiring an additional 12,790 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Ritchie Bros. Auctioneers by 3.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 226,944 shares of the business services provider’s stock worth $7,716,000 after acquiring an additional 7,336 shares during the period. Fiera Capital Corp lifted its stake in shares of Ritchie Bros. Auctioneers by 11.8% in the 1st quarter. Fiera Capital Corp now owns 2,415,995 shares of the business services provider’s stock worth $82,003,000 after acquiring an additional 255,705 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Ritchie Bros. Auctioneers by 2.0% in the 1st quarter. Swiss National Bank now owns 199,300 shares of the business services provider’s stock worth $6,768,000 after acquiring an additional 3,900 shares during the period. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

In other Ritchie Bros. Auctioneers news, insider Darren Jeffrey Watt sold 2,279 shares of Ritchie Bros. Auctioneers stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $39.33, for a total transaction of $89,633.07. Following the transaction, the insider now directly owns 5,626 shares of the company’s stock, valued at $221,270.58. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Todd Donald Wohler sold 2,428 shares of Ritchie Bros. Auctioneers stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $39.80, for a total transaction of $96,634.40. Following the transaction, the insider now directly owns 9,491 shares in the company, valued at $377,741.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,709 shares of company stock valued at $344,944. 1.60% of the stock is owned by insiders.

Shares of NYSE RBA traded down $0.14 during midday trading on Friday, reaching $39.41. 388,766 shares of the stock were exchanged, compared to its average volume of 294,463. The company has a market capitalization of $4.26 billion, a P/E ratio of 36.49, a P/E/G ratio of 4.42 and a beta of 0.70. Ritchie Bros. Auctioneers Inc has a 52-week low of $30.76 and a 52-week high of $40.16. The company has a current ratio of 1.24, a quick ratio of 1.12 and a debt-to-equity ratio of 0.82. The stock has a 50 day moving average price of $39.02 and a 200-day moving average price of $35.84.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, August 8th. The business services provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. Ritchie Bros. Auctioneers had a net margin of 10.08% and a return on equity of 15.27%. The firm had revenue of $393.20 million during the quarter, compared to the consensus estimate of $352.51 million. During the same period in the previous year, the firm earned $0.42 earnings per share. Ritchie Bros. Auctioneers’s revenue was up 27.4% compared to the same quarter last year. On average, analysts forecast that Ritchie Bros. Auctioneers Inc will post 1.27 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.03%. This is an increase from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Tuesday, August 27th. Ritchie Bros. Auctioneers’s payout ratio is presently 74.07%.

Several analysts recently commented on the stock. TD Securities raised their price objective on shares of Ritchie Bros. Auctioneers from $28.00 to $29.00 and gave the company a “reduce” rating in a research note on Monday, August 12th. Raymond James raised their price objective on shares of Ritchie Bros. Auctioneers from $34.50 to $36.50 and gave the company a “market perform” rating in a research note on Monday, August 12th. National Bank Financial raised their target price on shares of Ritchie Bros. Auctioneers from $34.00 to $35.00 and gave the company a “sector perform” rating in a report on Monday, August 12th. Zacks Investment Research upgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Thursday, August 15th. Finally, ValuEngine downgraded shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $36.25.

Ritchie Bros. Auctioneers Company Profile

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.

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

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