Pembroke Management LTD Has $11.48 Million Position in Ritchie Bros. Auctioneers Incorporated (RBA)

Pembroke Management LTD reduced its stake in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 12.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 346,500 shares of the business services provider’s stock after selling 49,100 shares during the quarter. Pembroke Management LTD owned approximately 0.32% of Ritchie Bros. Auctioneers worth $11,482,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. First Bank & Trust increased its position in Ritchie Bros. Auctioneers by 3.8% during the 2nd quarter. First Bank & Trust now owns 5,387 shares of the business services provider’s stock valued at $155,000 after buying an additional 196 shares in the last quarter. Forward Management LLC increased its position in Ritchie Bros. Auctioneers by 11.0% during the 2nd quarter. Forward Management LLC now owns 6,137 shares of the business services provider’s stock valued at $176,000 after buying an additional 609 shares in the last quarter. Stephens Inc. AR increased its position in Ritchie Bros. Auctioneers by 8.4% during the 2nd quarter. Stephens Inc. AR now owns 8,296 shares of the business services provider’s stock valued at $238,000 after buying an additional 642 shares in the last quarter. Commerce Bank increased its holdings in shares of Ritchie Bros. Auctioneers by 4.0% in the second quarter. Commerce Bank now owns 19,957 shares of the business services provider’s stock valued at $574,000 after purchasing an additional 761 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Ritchie Bros. Auctioneers by 10.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,492 shares of the business services provider’s stock valued at $244,000 after purchasing an additional 836 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) traded down $0.53 during midday trading on Thursday, hitting $25.57. The stock had a trading volume of 487,900 shares, compared to its average volume of 659,576. The stock has a market capitalization of $2,797.53, a P/E ratio of 31.07, a PEG ratio of 3.24 and a beta of 0.66. Ritchie Bros. Auctioneers Incorporated has a 1-year low of $24.08 and a 1-year high of $39.96. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.20.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, November 9th. The business services provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.05). The firm had revenue of $141.05 million during the quarter, compared to analysts’ expectations of $139.96 million. Ritchie Bros. Auctioneers had a net margin of 11.43% and a return on equity of 13.04%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 EPS. research analysts forecast that Ritchie Bros. Auctioneers Incorporated will post 0.85 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, November 29th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $0.68 dividend on an annualized basis and a yield of 2.66%. Ritchie Bros. Auctioneers’s payout ratio is 111.48%.

In related news, CFO Sharon Ruth Driscoll acquired 1,375 shares of Ritchie Bros. Auctioneers stock in a transaction that occurred on Thursday, September 7th. The shares were purchased at an average price of $29.77 per share, for a total transaction of $40,933.75. Following the completion of the transaction, the chief financial officer now owns 1,000 shares in the company, valued at approximately $29,770. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.39% of the company’s stock.

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RBA has been the topic of a number of research reports. Scotiabank set a $34.00 price objective on Ritchie Bros. Auctioneers and gave the company an “outperform” rating in a report on Friday, October 20th. Royal Bank Of Canada set a $40.00 target price on Ritchie Bros. Auctioneers and gave the stock a “buy” rating in a report on Wednesday, August 9th. Raymond James Financial, Inc. dropped their target price on Ritchie Bros. Auctioneers from $29.00 to $26.50 and set a “market perform” rating on the stock in a report on Monday, November 13th. TD Securities dropped their target price on Ritchie Bros. Auctioneers from $23.00 to $22.00 and set a “reduce” rating on the stock in a report on Monday, November 13th. Finally, Bank of America Corporation dropped their target price on Ritchie Bros. Auctioneers from $22.50 to $21.50 and set an “underperform” rating on the stock in a report on Thursday, November 16th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $29.45.

Ritchie Bros. Auctioneers Profile

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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