Connor Clark & Lunn Investment Management Ltd. Acquires 120,000 Shares of Ritchie Bros. Auctioneers Inc (RBA)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 231.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 171,900 shares of the business services provider’s stock after buying an additional 120,000 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ritchie Bros. Auctioneers were worth $6,199,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fiera Capital Corp lifted its position in shares of Ritchie Bros. Auctioneers by 8,475.2% during the 2nd quarter. Fiera Capital Corp now owns 2,709,764 shares of the business services provider’s stock worth $92,435,000 after purchasing an additional 2,678,164 shares during the last quarter. Grandeur Peak Global Advisors LLC lifted its position in shares of Ritchie Bros. Auctioneers by 36.9% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 1,347,200 shares of the business services provider’s stock worth $45,966,000 after purchasing an additional 363,350 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Ritchie Bros. Auctioneers by 4.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,968,491 shares of the business services provider’s stock worth $287,901,000 after purchasing an additional 360,298 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of Ritchie Bros. Auctioneers by 19.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,852,232 shares of the business services provider’s stock worth $63,198,000 after purchasing an additional 306,416 shares during the last quarter. Finally, Carillon Tower Advisers Inc. lifted its position in shares of Ritchie Bros. Auctioneers by 20.5% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 1,324,455 shares of the business services provider’s stock worth $45,190,000 after purchasing an additional 225,000 shares during the last quarter. 91.65% of the stock is owned by institutional investors.

Shares of NYSE:RBA opened at $34.78 on Monday. Ritchie Bros. Auctioneers Inc has a 12 month low of $25.50 and a 12 month high of $38.77. The company has a current ratio of 1.28, a quick ratio of 1.12 and a debt-to-equity ratio of 0.90. The firm has a market cap of $3.78 billion, a P/E ratio of 42.94, a P/E/G ratio of 2.42 and a beta of 0.78.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Thursday, November 8th. The business services provider reported $0.18 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Ritchie Bros. Auctioneers had a net margin of 12.36% and a return on equity of 14.15%. The firm had revenue of $159.30 million for the quarter, compared to analyst estimates of $163.59 million. During the same period last year, the business earned $0.09 EPS. Ritchie Bros. Auctioneers’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities analysts expect that Ritchie Bros. Auctioneers Inc will post 1.1 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Wednesday, November 28th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, November 27th. This represents a $0.72 annualized dividend and a yield of 2.07%. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 88.89%.

Several equities research analysts have recently issued reports on the stock. Barrington Research reaffirmed a “hold” rating on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, November 20th. Zacks Investment Research cut shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research report on Wednesday, November 14th. National Bank Financial decreased their price objective on shares of Ritchie Bros. Auctioneers from $39.00 to $38.00 and set a “sector perform” rating for the company in a research report on Monday, November 12th. Finally, Macquarie lifted their price objective on shares of Ritchie Bros. Auctioneers from $39.50 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, September 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.00.

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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 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.

See Also: What is the Ex-Dividend Date in Investing?

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

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