Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its position in Ritchie Bros. Auctioneers Incorporated (NYSE:RBAGet Rating) (TSE:RBA) by 9.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,717,684 shares of the business services provider’s stock after selling 179,675 shares during the period. JPMorgan Chase & Co.’s holdings in Ritchie Bros. Auctioneers were worth $111,753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Beutel Goodman & Co Ltd. grew its position in shares of Ritchie Bros. Auctioneers by 63.8% in the 1st quarter. Beutel Goodman & Co Ltd. now owns 5,492,048 shares of the business services provider’s stock worth $324,530,000 after acquiring an additional 2,139,411 shares in the last quarter. Invesco Ltd. grew its position in shares of Ritchie Bros. Auctioneers by 19.2% in the 1st quarter. Invesco Ltd. now owns 4,652,139 shares of the business services provider’s stock worth $274,617,000 after acquiring an additional 747,804 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Ritchie Bros. Auctioneers by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 3,703,479 shares of the business services provider’s stock worth $218,616,000 after acquiring an additional 90,212 shares in the last quarter. Jarislowsky Fraser Ltd boosted its position in Ritchie Bros. Auctioneers by 27.6% during the 2nd quarter. Jarislowsky Fraser Ltd now owns 2,680,267 shares of the business services provider’s stock valued at $174,016,000 after purchasing an additional 579,763 shares during the period. Finally, Fiera Capital Corp boosted its position in Ritchie Bros. Auctioneers by 13.3% during the 2nd quarter. Fiera Capital Corp now owns 2,546,557 shares of the business services provider’s stock valued at $165,679,000 after purchasing an additional 298,516 shares during the period. Institutional investors and hedge funds own 82.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RBA. StockNews.com began coverage on Ritchie Bros. Auctioneers in a research report on Wednesday, October 12th. They set a “buy” rating for the company. Bank of America downgraded 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 note on Tuesday, November 8th. 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 note on Tuesday, November 8th. National Bankshares raised Ritchie Bros. Auctioneers from an “underperform” rating to a “sector perform” rating and cut their target price for the company from $60.00 to $55.00 in a research note on Tuesday, November 8th. Finally, OTR Global reaffirmed a “negative” rating on shares of Ritchie Bros. Auctioneers in a research note on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $59.67.

Ritchie Bros. Auctioneers Stock Down 2.4 %

RBA opened at $54.48 on Wednesday. Ritchie Bros. Auctioneers Incorporated has a one year low of $48.65 and a one year high of $72.73. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.27. The stock’s fifty day moving average is $61.13 and its 200-day moving average is $63.84. The company has a market capitalization of $6.04 billion, a PE ratio of 19.96, a P/E/G ratio of 4.55 and a beta of 1.01.

Ritchie Bros. Auctioneers (NYSE:RBAGet Rating) (TSE:RBA) last posted its quarterly earnings data on Monday, November 7th. The business services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. Ritchie Bros. Auctioneers had a return on equity of 25.52% and a net margin of 18.49%. The company had revenue of $411.50 million for the quarter, compared to the consensus estimate of $366.23 million. During the same quarter in the previous year, the business earned $0.44 EPS. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, equities analysts predict that Ritchie Bros. Auctioneers Incorporated will post 1.76 EPS for the current fiscal year.

Ritchie Bros. Auctioneers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Wednesday, November 23rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, November 22nd. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 39.56%.

Ritchie Bros. Auctioneers 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.

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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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