Vanguard Group Inc. Has $56.90 Million Position in Ritchie Bros. Auctioneers Incorporated (RBA)

Vanguard Group Inc. boosted its stake in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 4.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,729,541 shares of the business services provider’s stock after buying an additional 74,151 shares during the period. Vanguard Group Inc. owned approximately 1.62% of Ritchie Bros. Auctioneers worth $56,902,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RBA. CGOV Asset Management increased its stake in shares of Ritchie Bros. Auctioneers by 150.2% in the first quarter. CGOV Asset Management now owns 6,956,054 shares of the business services provider’s stock worth $304,466,000 after buying an additional 4,175,593 shares during the period. Burgundy Asset Management Ltd. increased its stake in shares of Ritchie Bros. Auctioneers by 3.0% in the first quarter. Burgundy Asset Management Ltd. now owns 4,748,682 shares of the business services provider’s stock worth $156,232,000 after buying an additional 139,456 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Ritchie Bros. Auctioneers by 57.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,498,984 shares of the business services provider’s stock worth $115,116,000 after buying an additional 1,271,836 shares during the period. Mondrian Investment Partners LTD increased its stake in shares of Ritchie Bros. Auctioneers by 15.5% in the first quarter. Mondrian Investment Partners LTD now owns 2,209,890 shares of the business services provider’s stock worth $96,727,000 after buying an additional 296,609 shares during the period. Finally, Aberdeen Asset Management PLC UK increased its stake in shares of Ritchie Bros. Auctioneers by 26.6% in the first quarter. Aberdeen Asset Management PLC UK now owns 1,916,302 shares of the business services provider’s stock worth $63,046,000 after buying an additional 402,984 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Ritchie Bros. Auctioneers Incorporated (RBA) opened at 28.42 on Friday. Ritchie Bros. Auctioneers Incorporated has a 12-month low of $26.68 and a 12-month high of $39.96. The stock has a market capitalization of $3.04 billion, a PE ratio of 61.52 and a beta of 0.55. The stock’s 50 day moving average price is $28.11 and its 200-day moving average price is $30.65.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, August 8th. The business services provider reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $166.20 million during the quarter, compared to the consensus estimate of $161.85 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that Ritchie Bros. Auctioneers Incorporated will post $1.02 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Wednesday, August 23rd. Ritchie Bros. Auctioneers’s payout ratio is 144.68%.

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RBA has been the subject of a number of recent research reports. Royal Bank Of Canada set a $41.00 target price on Ritchie Bros. Auctioneers and gave the stock a “buy” rating in a research note on Saturday, April 22nd. TheStreet downgraded Ritchie Bros. Auctioneers from a “b” rating to a “c+” rating in a research note on Monday, May 8th. BidaskClub raised Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $29.00 target price on shares of Ritchie Bros. Auctioneers in a research note on Monday, May 15th. Finally, Zacks Investment Research raised Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a research note on Saturday, July 8th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $33.42.

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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