Raymond James & Associates Has $5.51 Million Stock Position in Ritchie Bros. Auctioneers Incorporated (NYSE:RBA)

Posted by MarketBeat News on May 23rd, 2023

Raymond James & Associates lessened its stake in Ritchie Bros. Auctioneers Incorporated (NYSE:RBA – Get Rating) (TSE:RBA) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,325 shares of the business services provider’s stock after selling 4,403 shares during the quarter. Raymond James & Associates owned about 0.09% of Ritchie Bros. Auctioneers worth $5,513,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mariner LLC raised its stake in Ritchie Bros. Auctioneers by 2.4% during the first quarter. Mariner LLC now owns 10,469 shares of the business services provider’s stock worth $618,000 after acquiring an additional 248 shares in the last quarter. Signaturefd LLC increased its stake in shares of Ritchie Bros. Auctioneers by 28.6% in the third quarter. Signaturefd LLC now owns 1,285 shares of the business services provider’s stock valued at $80,000 after buying an additional 286 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Ritchie Bros. Auctioneers by 41.2% in the second quarter. BNP Paribas Arbitrage SA now owns 1,114 shares of the business services provider’s stock valued at $72,000 after buying an additional 325 shares during the period. Prudential Financial Inc. increased its stake in shares of Ritchie Bros. Auctioneers by 3.1% in the third quarter. Prudential Financial Inc. now owns 11,503 shares of the business services provider’s stock valued at $736,000 after buying an additional 343 shares during the period. Finally, FMR LLC increased its stake in shares of Ritchie Bros. Auctioneers by 1.6% in the second quarter. FMR LLC now owns 22,663 shares of the business services provider’s stock valued at $1,474,000 after buying an additional 363 shares during the period. Institutional investors and hedge funds own 81.09% of the company’s stock.

Insider Buying and Selling

In other news, Director Adam Dewitt bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were bought at an average cost of $52.40 per share, for a total transaction of $104,800.00. Following the acquisition, the director now directly owns 2,000 shares in the company, valued at $104,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robert George Elton acquired 1,471 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were acquired at an average cost of $54.15 per share, for a total transaction of $79,654.65. Following the purchase, the director now owns 1,471 shares in the company, valued at $79,654.65. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Adam Dewitt acquired 2,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were bought at an average price of $52.40 per share, for a total transaction of $104,800.00. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at approximately $104,800. The disclosure for this purchase can be found here. Insiders have bought a total of 21,993 shares of company stock worth $1,185,754 in the last ninety days. Corporate insiders own 4.32% of the company’s stock.

Wall Street Analysts Forecast Growth

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RBA has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. National Bankshares raised shares of Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and set a $61.00 target price for the company in a research report on Thursday, May 18th. Raymond James increased 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. Robert W. Baird decreased their target price on shares of Ritchie Bros. Auctioneers from $66.00 to $64.00 in a research report on Monday, March 20th. Finally, National Bank Financial raised shares of Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and set a $61.00 price objective for the company in a research report on Thursday, May 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.57.

Ritchie Bros. Auctioneers Price Performance

Shares of RBA opened at $56.35 on Tuesday. Ritchie Bros. Auctioneers Incorporated has a 12-month low of $48.72 and a 12-month high of $72.73. The business’s fifty day moving average is $55.95 and its 200 day moving average is $57.33. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.64. The stock has a market cap of $10.25 billion, a P/E ratio of 57.50, a P/E/G ratio of 3.42 and a beta of 0.89.

Ritchie Bros. Auctioneers (NYSE:RBA – Get Rating) (TSE:RBA) last issued its earnings results on Tuesday, February 21st. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. Ritchie Bros. Auctioneers had a return on equity of 5.25% and a net margin of 6.13%. The company had revenue of $443.86 million for the quarter, compared to analysts’ expectations of $430.21 million. During the same period last year, the business earned $0.27 EPS. Ritchie Bros. Auctioneers’s quarterly revenue was up 23.5% compared to the same quarter last year. Sell-side analysts anticipate that Ritchie Bros. Auctioneers Incorporated will post 2.34 earnings per share for the current fiscal year.

Ritchie Bros. Auctioneers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Tuesday, May 30th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, May 26th. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 110.20%.

Ritchie Bros. Auctioneers Company 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.