Pictet Asset Management SA Purchases 664 Shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA)

Pictet Asset Management SA grew its position in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBAGet Rating) (TSE:RBA) by 1.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 45,283 shares of the business services provider’s stock after buying an additional 664 shares during the period. Pictet Asset Management SA’s holdings in Ritchie Bros. Auctioneers were worth $2,940,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RBA. Whittier Trust Co. increased its holdings in shares of Ritchie Bros. Auctioneers by 1,391.4% during the second quarter. Whittier Trust Co. now owns 522 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 487 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Ritchie Bros. Auctioneers by 860.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 759 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 680 shares in the last quarter. Benjamin Edwards Inc. boosted its position in shares of Ritchie Bros. Auctioneers by 8,568.4% during the first quarter. Benjamin Edwards Inc. now owns 1,647 shares of the business services provider’s stock valued at $97,000 after buying an additional 1,628 shares during the last quarter. Curi Wealth Management LLC boosted its position in shares of Ritchie Bros. Auctioneers by 86.8% during the first quarter. Curi Wealth Management LLC now owns 1,771 shares of the business services provider’s stock valued at $104,000 after buying an additional 823 shares during the last quarter. Finally, Power Corp of Canada purchased a new position in shares of Ritchie Bros. Auctioneers during the first quarter valued at approximately $118,000. Institutional investors own 82.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. OTR Global reaffirmed a “negative” rating on shares of Ritchie Bros. Auctioneers in a research report on Wednesday, November 2nd. Northcoast Research raised Ritchie Bros. Auctioneers from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Monday, November 14th. Raymond James cut their target price on Ritchie Bros. Auctioneers from $62.00 to $55.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 8th. Scotiabank cut their target price on Ritchie Bros. Auctioneers from $68.00 to $64.00 in a research report on Wednesday, October 5th. Finally, Bank of America cut Ritchie Bros. Auctioneers from a “buy” rating to a “neutral” rating and cut their target price for the company from $74.00 to $55.00 in a research report on Tuesday, November 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $59.67.

Ritchie Bros. Auctioneers Stock Down 0.4 %

RBA stock opened at $54.91 on Monday. The stock’s fifty day simple moving average is $61.62 and its two-hundred day simple moving average is $63.80. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. Ritchie Bros. Auctioneers Incorporated has a 1-year low of $48.65 and a 1-year high of $73.63. The stock has a market cap of $6.09 billion, a P/E ratio of 20.11, a P/E/G ratio of 4.46 and a beta of 1.01.

Ritchie Bros. Auctioneers (NYSE:RBAGet Rating) (TSE:RBA) last issued its earnings results on Monday, November 7th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.14. The firm had revenue of $411.50 million for the quarter, compared to analyst estimates of $366.23 million. Ritchie Bros. Auctioneers had a return on equity of 25.52% and a net margin of 18.49%. The business’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. Analysts expect that Ritchie Bros. Auctioneers Incorporated will post 1.76 EPS for the current year.

Ritchie Bros. Auctioneers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Wednesday, November 23rd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $1.08 annualized dividend and a dividend yield of 1.97%. Ritchie Bros. Auctioneers’s payout ratio is presently 39.56%.

Ritchie Bros. Auctioneers Company Profile

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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. It sells a range of used and unused commercial assets, including earthmoving equipment, truck tractors and trailers, government surplus, oil and gas equipment, and other industrial assets, as well as construction and heavy machinery.

See Also

Want to see what other hedge funds are holding RBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ritchie Bros. Auctioneers Incorporated (NYSE:RBAGet Rating) (TSE:RBA).

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

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