CIBC Private Wealth Group LLC Purchases 2,122 Shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA)

CIBC Private Wealth Group LLC grew its stake in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBAGet Rating) (TSE:RBA) by 0.4% during the third quarter, HoldingsChannel reports. The firm owned 510,112 shares of the business services provider’s stock after purchasing an additional 2,122 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Ritchie Bros. Auctioneers were worth $31,870,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of RBA. New Century Advisors LLC lifted its position in Ritchie Bros. Auctioneers by 99.1% during the 3rd quarter. New Century Advisors LLC now owns 436 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 217 shares during the period. Mariner LLC raised its holdings in Ritchie Bros. Auctioneers by 2.4% in the first quarter. Mariner LLC now owns 10,469 shares of the business services provider’s stock worth $618,000 after buying an additional 248 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Ritchie Bros. Auctioneers by 28.6% during the third 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. BNP Paribas Arbitrage SA raised its holdings in shares of Ritchie Bros. Auctioneers by 41.2% during the second 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. Finally, Prudential Financial Inc. raised its holdings in shares of Ritchie Bros. Auctioneers by 3.1% during the third quarter. Prudential Financial Inc. now owns 11,503 shares of the business services provider’s stock valued at $736,000 after purchasing an additional 343 shares during the last quarter. Institutional investors own 81.09% of the company’s stock.

Analysts Set New Price Targets

RBA has been the subject of several recent research reports. 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 research report on Tuesday, January 24th. National Bankshares upped 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. Robert W. Baird increased their target price on shares of Ritchie Bros. Auctioneers from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, January 24th. StockNews.com downgraded shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research note on Monday, November 28th. Finally, Scotiabank upgraded shares of Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $59.00 to $65.00 in a report on Monday, December 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Ritchie Bros. Auctioneers currently has an average rating of “Hold” and a consensus price target of $61.67.

Ritchie Bros. Auctioneers Stock Down 1.8 %

Shares of NYSE:RBA opened at $53.51 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.21 and a quick ratio of 1.08. The firm has a market capitalization of $5.95 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 3.43 and a beta of 0.91. The firm’s 50-day moving average is $60.26 and its two-hundred day moving average is $60.36. Ritchie Bros. Auctioneers Incorporated has a 1 year low of $48.72 and a 1 year high of $72.73.

Ritchie Bros. Auctioneers (NYSE:RBAGet Rating) (TSE:RBA) last announced its quarterly earnings results on Tuesday, February 21st. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. The firm had revenue of $443.86 million during the quarter, compared to the consensus estimate of $430.21 million. Ritchie Bros. Auctioneers had a return on equity of 25.58% and a net margin of 18.44%. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 earnings per share. Analysts predict that Ritchie Bros. Auctioneers Incorporated will post 2.34 EPS for the current year.

Ritchie Bros. Auctioneers Announces Dividend

The business also recently declared a — dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Friday, March 17th will be paid a dividend of $1.08 per share. This represents a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, March 21st. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 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.

Further Reading

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

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