TD Asset Management Inc. decreased its stake in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,723,958 shares of the business services provider’s stock after selling 20,739 shares during the period. TD Asset Management Inc. owned 1.61% of Ritchie Bros. Auctioneers worth $49,463,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of RBA. Dimensional Fund Advisors LP raised its stake in shares of Ritchie Bros. Auctioneers by 14.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 101,679 shares of the business services provider’s stock valued at $3,457,000 after buying an additional 13,004 shares during the period. Bank of Montreal Can raised its stake in Ritchie Bros. Auctioneers by 2.4% in the first quarter. Bank of Montreal Can now owns 770,094 shares of the business services provider’s stock worth $25,337,000 after buying an additional 17,930 shares during the period. CGOV Asset Management raised its stake in 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. Diversified Trust Co bought a new stake in Ritchie Bros. Auctioneers during the first quarter worth $290,000. Finally, Granite Investment Partners LLC raised its stake in Ritchie Bros. Auctioneers by 88.5% in the first quarter. Granite Investment Partners LLC now owns 55,499 shares of the business services provider’s stock worth $1,826,000 after buying an additional 26,063 shares during the period. 94.17% of the stock is owned by institutional investors.
Shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) traded down 0.59% during mid-day trading on Friday, reaching $28.42. 773,311 shares of the company’s stock traded hands. The stock has a market capitalization of $3.04 billion, a PE ratio of 61.52 and a beta of 0.55. Ritchie Bros. Auctioneers Incorporated has a 12-month low of $26.68 and a 12-month high of $39.96. The company’s 50-day moving average price is $28.11 and its 200-day moving average price is $30.65.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Wednesday, August 23rd. Ritchie Bros. Auctioneers’s payout ratio is currently 144.68%.
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A number of research analysts recently issued reports on the company. Royal Bank Of Canada set a $40.00 price target on Ritchie Bros. Auctioneers and gave the company a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. National Bank Financial cut their price target on Ritchie Bros. Auctioneers from $31.50 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 9th. Scotiabank upped their price objective on Ritchie Bros. Auctioneers from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Finally, BidaskClub cut Ritchie Bros. Auctioneers from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Ritchie Bros. Auctioneers currently 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.
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