Ritchie Bros. Auctioneers Inc. (RBA) VP Jeroen Laurentius Johanus Rijk Sells 6,600 Shares
Ritchie Bros. Auctioneers Inc. (NYSE:RBA) VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of the stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $34.00, for a total transaction of $224,400.00. Following the completion of the transaction, the vice president now directly owns 6,600 shares in the company, valued at $224,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Ritchie Bros. Auctioneers Inc. (NYSE:RBA) opened at 34.82 on Wednesday. The firm has a market capitalization of $3.71 billion, a P/E ratio of 27.27 and a beta of 0.60. Ritchie Bros. Auctioneers Inc. has a 52 week low of $21.03 and a 52 week high of $36.79. The firm’s 50-day moving average is $31.48 and its 200-day moving average is $30.81.
Ritchie Bros. Auctioneers (NYSE:RBA) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.07. The firm had revenue of $158.80 million for the quarter, compared to analysts’ expectations of $160.96 million. Ritchie Bros. Auctioneers had a return on equity of 16.55% and a net margin of 25.39%. Ritchie Bros. Auctioneers’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 earnings per share. Equities analysts anticipate that Ritchie Bros. Auctioneers Inc. will post $1.17 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.95%. This is a boost from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. The ex-dividend date is Wednesday, August 31st. Ritchie Bros. Auctioneers’s payout ratio is presently 53.97%.
RBA has been the topic of several research analyst reports. Macquarie initiated coverage on shares of Ritchie Bros. Auctioneers in a research report on Thursday, August 25th. They issued an “outperform” rating and a $34.00 price objective on the stock. OTR Global reissued a “negative” rating on shares of Ritchie Bros. Auctioneers in a research report on Friday, July 22nd. Jefferies Group upped their price target on shares of Ritchie Bros. Auctioneers from $28.00 to $32.00 and gave the company a “hold” rating in a research note on Wednesday, August 31st. TD Securities restated a “reduce” rating and issued a $26.00 price target on shares of Ritchie Bros. Auctioneers in a research note on Saturday, August 13th. Finally, RBC Capital Markets restated an “outperform” rating on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, August 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $32.55.
Several large investors have recently added to or reduced their stakes in the company. Primecap Management Co. CA boosted its stake in Ritchie Bros. Auctioneers by 3.1% in the first quarter. Primecap Management Co. CA now owns 7,331,480 shares of the company’s stock worth $198,536,000 after buying an additional 223,300 shares during the last quarter. Janus Capital Management LLC boosted its stake in Ritchie Bros. Auctioneers by 4.5% in the second quarter. Janus Capital Management LLC now owns 5,867,441 shares of the company’s stock worth $198,202,000 after buying an additional 251,789 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Ritchie Bros. Auctioneers by 16.1% in the second quarter. Neuberger Berman Group LLC now owns 1,973,102 shares of the company’s stock worth $66,651,000 after buying an additional 273,300 shares during the last quarter. GW&K Investment Management LLC boosted its stake in Ritchie Bros. Auctioneers by 2.1% in the second quarter. GW&K Investment Management LLC now owns 1,941,974 shares of the company’s stock worth $65,600,000 after buying an additional 40,651 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in Ritchie Bros. Auctioneers during the second quarter worth approximately $60,930,000. Institutional investors own 86.29% of the company’s stock.
About Ritchie Bros. Auctioneers
Ritchie Bros. Auctioneers Incorporated is a holding company. The Company is an auctioneer of industrial equipment. The Company is engaged in selling industrial equipment and other assets for the construction, agricultural, transportation, energy, mining, forestry, material handling, marine and real estate industries at its unreserved auctions and online marketplaces.
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