Wealthsource Partners LLC Trims Holdings in Ritchie Bros. Auctioneers Incorporated (NYSE:RBA)

Wealthsource Partners LLC reduced its holdings in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA – Get Rating) (TSE:RBA) by 8.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,899 shares of the business services provider’s stock after selling 573 shares during the quarter. Wealthsource Partners LLC’s holdings in Ritchie Bros. Auctioneers were worth $369,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in shares of Ritchie Bros. Auctioneers during the 3rd quarter valued at approximately $124,000. Trexquant Investment LP bought a new position in Ritchie Bros. Auctioneers during the second quarter worth $1,188,000. Bank of Montreal Can lifted its stake in Ritchie Bros. Auctioneers by 2.1% during the third quarter. Bank of Montreal Can now owns 1,684,031 shares of the business services provider’s stock worth $107,752,000 after purchasing an additional 33,848 shares during the last quarter. Eaton Vance Management lifted its stake in Ritchie Bros. Auctioneers by 3.8% during the third quarter. Eaton Vance Management now owns 196,650 shares of the business services provider’s stock worth $12,287,000 after purchasing an additional 7,163 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Ritchie Bros. Auctioneers by 15.0% during the second quarter. Deutsche Bank AG now owns 104,889 shares of the business services provider’s stock worth $6,825,000 after purchasing an additional 13,700 shares during the last quarter. 81.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RBA shares. Robert W. Baird raised their price objective on Ritchie Bros. Auctioneers from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 24th. Scotiabank upgraded Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $59.00 to $65.00 in a research note on Monday, December 5th. National Bankshares raised their target price on 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. Raymond James raised their target price on Ritchie Bros. Auctioneers from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, January 24th. Finally, StockNews.com cut Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research note on Monday, November 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Ritchie Bros. Auctioneers has a consensus rating of “Hold” and a consensus target price of $61.67.

Ritchie Bros. Auctioneers Price Performance

Shares of RBA opened at $53.51 on Wednesday. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 3.43 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.21. Ritchie Bros. Auctioneers Incorporated has a one year low of $48.72 and a one year high of $72.73. The stock’s fifty day moving average is $60.26 and its 200-day moving average is $60.36.

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

Ritchie Bros. Auctioneers Announces Dividend

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

About Ritchie Bros. Auctioneers

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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.