Ashmore Wealth Management LLC decreased its holdings in shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 414,877 shares of the business services provider’s stock after selling 32,963 shares during the period. Ritchie Bros. Auctioneers comprises approximately 0.8% of Ashmore Wealth Management LLC’s holdings, making the stock its 27th largest position. Ashmore Wealth Management LLC owned about 0.38% of Ritchie Bros. Auctioneers worth $14,990,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Cutler Group LP boosted its holdings in Ritchie Bros. Auctioneers by 125.6% in the 2nd quarter. Cutler Group LP now owns 4,688 shares of the business services provider’s stock worth $159,000 after buying an additional 22,971 shares during the period. Janney Montgomery Scott LLC bought a new position in Ritchie Bros. Auctioneers in the 3rd quarter worth $210,000. We Are One Seven LLC bought a new position in Ritchie Bros. Auctioneers in the 3rd quarter worth $216,000. Oppenheimer & Co. Inc. bought a new position in Ritchie Bros. Auctioneers in the 2nd quarter worth $207,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Ritchie Bros. Auctioneers by 197.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,036 shares of the business services provider’s stock worth $275,000 after buying an additional 5,336 shares during the period. 91.65% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on the stock. Barrington Research reaffirmed a “hold” rating on shares of Ritchie Bros. Auctioneers in a report on Tuesday, November 20th. Zacks Investment Research downgraded shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a report on Wednesday, November 14th. National Bank Financial dropped their target price on shares of Ritchie Bros. Auctioneers from $39.00 to $38.00 and set a “sector perform” rating for the company in a report on Monday, November 12th. Finally, Macquarie upped their target price on shares of Ritchie Bros. Auctioneers from $39.50 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, September 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $36.00.
Shares of RBA stock opened at $34.78 on Monday. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 42.94, a P/E/G ratio of 2.42 and a beta of 0.78. Ritchie Bros. Auctioneers Inc has a 52 week low of $25.50 and a 52 week high of $38.77. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.12 and a current ratio of 1.28.
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 consensus estimate of $0.18. The business had revenue of $159.30 million for the quarter, compared to analysts’ expectations of $163.59 million. Ritchie Bros. Auctioneers had a net margin of 12.36% and a return on equity of 14.15%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.09 EPS. As a group, equities analysts expect that Ritchie Bros. Auctioneers Inc will post 1.1 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Wednesday, November 28th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Tuesday, November 27th. Ritchie Bros. Auctioneers’s payout ratio is currently 88.89%.
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Ritchie Bros. Auctioneers 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.
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