Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA – Get Rating) (TSE:RBA) by 14.9% during the third quarter, HoldingsChannel.com reports. The fund owned 654,984 shares of the business services provider’s stock after selling 114,559 shares during the period. Bank of New York Mellon Corp’s holdings in Ritchie Bros. Auctioneers were worth $40,923,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New Century Advisors LLC boosted its position in Ritchie Bros. Auctioneers by 99.1% during the third quarter. New Century Advisors LLC now owns 436 shares of the business services provider’s stock worth $27,000 after acquiring an additional 217 shares during the last quarter. Private Trust Co. NA acquired a new position in Ritchie Bros. Auctioneers in the 2nd quarter valued at about $45,000. BNP Paribas Arbitrage SA boosted its holdings in Ritchie Bros. Auctioneers by 41.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,114 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 325 shares during the last quarter. Signaturefd LLC boosted its holdings in Ritchie Bros. Auctioneers by 28.6% in the 3rd quarter. Signaturefd LLC now owns 1,285 shares of the business services provider’s stock valued at $80,000 after purchasing an additional 286 shares during the last quarter. Finally, Twin Tree Management LP acquired a new position in Ritchie Bros. Auctioneers in the 3rd quarter valued at about $103,000. 81.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RBA. Raymond James boosted their target price on shares of Ritchie Bros. Auctioneers from $55.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, January 24th. Northcoast Research upgraded shares of Ritchie Bros. Auctioneers from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Monday, November 14th. Robert W. Baird boosted their target price on shares of Ritchie Bros. Auctioneers from $62.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, January 24th. Scotiabank upgraded shares of Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $59.00 to $65.00 in a report on Monday, December 5th. Finally, National Bankshares boosted their price target on shares of Ritchie Bros. Auctioneers from $62.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.67.

Ritchie Bros. Auctioneers Price Performance

Shares of RBA opened at $56.14 on Monday. Ritchie Bros. Auctioneers Incorporated has a fifty-two week low of $48.72 and a fifty-two week high of $72.73. The firm’s 50 day moving average price is $60.42 and its 200 day moving average price is $60.59. The company has a market cap of $6.24 billion, a P/E ratio of 19.63, a PEG ratio of 3.43 and a beta of 0.91. The company has a quick ratio of 1.08, a current ratio of 1.21 and a debt-to-equity ratio of 0.45.

Ritchie Bros. Auctioneers (NYSE:RBA – Get Rating) (TSE:RBA) last announced its earnings results on Tuesday, February 21st. The business services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.10. Ritchie Bros. Auctioneers had a net margin of 18.44% and a return on equity of 25.58%. The firm had revenue of $443.86 million for the quarter, compared to the consensus estimate of $430.21 million. During the same period in the prior year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. On average, research analysts forecast that Ritchie Bros. Auctioneers Incorporated will post 2.34 earnings per share for the current fiscal year.

Ritchie Bros. Auctioneers Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Tuesday, March 28th. Investors of record on Friday, March 17th will be paid a dividend of $1.08 per share. This represents a yield of 1.8%. The ex-dividend date is Tuesday, March 21st. Ritchie Bros. Auctioneers’s payout ratio is currently 37.76%.

Ritchie Bros. Auctioneers Profile

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Ritchie Bros. Auctioneers, Inc is an industrial auctioneer, which engages in the sale of equipment to on-site and online bidders. It operates through the following segments: Auctions and Marketplaces, Ritchie Bros. Financial Services and Mascus. The Auctions and Marketplaces segment consists of live on site auctions, online auctions and marketplaces, and brokerage service.