Eagle Asset Management Inc. lifted its holdings in shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,697,097 shares of the business services provider’s stock after acquiring an additional 53,644 shares during the quarter. Ritchie Bros. Auctioneers makes up about 0.8% of Eagle Asset Management Inc.’s portfolio, making the stock its 20th biggest holding. Eagle Asset Management Inc. owned 3.42% of Ritchie Bros. Auctioneers worth $147,510,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of RBA. Fiera Capital Corp boosted its stake in shares of Ritchie Bros. Auctioneers by 23.5% during the 2nd quarter. Fiera Capital Corp now owns 2,984,675 shares of the business services provider’s stock worth $99,276,000 after acquiring an additional 568,680 shares during the period. Mondrian Investment Partners LTD boosted its stake in Ritchie Bros. Auctioneers by 18.6% in the 3rd quarter. Mondrian Investment Partners LTD now owns 1,660,039 shares of the business services provider’s stock valued at $87,667,000 after purchasing an additional 259,917 shares during the period. Carillon Tower Advisers Inc. boosted its stake in Ritchie Bros. Auctioneers by 7.3% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 2,620,888 shares of the business services provider’s stock valued at $87,065,000 after purchasing an additional 178,723 shares during the period. Bank of America Corp DE boosted its stake in Ritchie Bros. Auctioneers by 10.7% in the 2nd quarter. Bank of America Corp DE now owns 1,357,202 shares of the business services provider’s stock valued at $45,086,000 after purchasing an additional 130,924 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Ritchie Bros. Auctioneers by 51.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 283,228 shares of the business services provider’s stock valued at $9,417,000 after purchasing an additional 96,251 shares during the period. Institutional investors own 89.73% of the company’s stock.
Several analysts recently issued reports on the company. Barrington Research restated a “hold” rating on shares of Ritchie Bros. Auctioneers in a research note on Friday. Royal Bank of Canada boosted their price target on Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, August 12th. TD Securities boosted their price target on Ritchie Bros. Auctioneers from $28.00 to $29.00 and gave the company a “reduce” rating in a research note on Monday, August 12th. ValuEngine downgraded Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Raymond James restated a “market perform” rating and issued a $36.50 price target on shares of Ritchie Bros. Auctioneers in a research note on Monday, October 21st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Ritchie Bros. Auctioneers currently has a consensus rating of “Hold” and an average price target of $36.25.
Shares of NYSE:RBA traded down $0.38 during trading on Friday, reaching $41.28. 1,077,636 shares of the company traded hands, compared to its average volume of 346,689. The company’s 50 day moving average is $39.78 and its two-hundred day moving average is $36.68. The firm has a market capitalization of $4.39 billion, a PE ratio of 38.22, a PEG ratio of 4.67 and a beta of 0.69. The company has a quick ratio of 1.12, a current ratio of 1.24 and a debt-to-equity ratio of 0.82. Ritchie Bros. Auctioneers Inc has a 52 week low of $30.76 and a 52 week high of $42.97.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, November 7th. The business services provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $289.80 million during the quarter, compared to the consensus estimate of $289.55 million. Ritchie Bros. Auctioneers had a return on equity of 15.27% and a net margin of 10.08%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS. As a group, research analysts anticipate that Ritchie Bros. Auctioneers Inc will post 1.27 EPS for the current year.
In other news, insider Darren Jeffrey Watt sold 2,279 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $39.33, for a total transaction of $89,633.07. Following the completion of the sale, the insider now directly owns 5,626 shares in the company, valued at approximately $221,270.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Todd Donald Wohler sold 2,428 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $39.80, for a total value of $96,634.40. Following the sale, the insider now owns 9,491 shares of the company’s stock, valued at $377,741.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,709 shares of company stock valued at $344,944. Corporate insiders own 1.60% of the company’s stock.
About Ritchie Bros. Auctioneers
Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved live on site 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, as well as construction and heavy machinery.
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