Granite Investment Partners LLC grew its holdings in shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 12.6% in the 1st quarter, Holdings Channel reports. The firm owned 27,004 shares of the business services provider’s stock after purchasing an additional 3,018 shares during the quarter. Granite Investment Partners LLC’s holdings in Ritchie Bros. Auctioneers were worth $918,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of RBA. Norges Bank purchased a new stake in shares of Ritchie Bros. Auctioneers during the 4th quarter valued at $45,133,000. Eagle Asset Management Inc. lifted its holdings in shares of Ritchie Bros. Auctioneers by 65.1% during the 4th quarter. Eagle Asset Management Inc. now owns 3,367,547 shares of the business services provider’s stock valued at $110,186,000 after purchasing an additional 1,327,657 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Ritchie Bros. Auctioneers by 9.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,718,774 shares of the business services provider’s stock valued at $285,278,000 after purchasing an additional 750,283 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Ritchie Bros. Auctioneers by 1,296.4% during the 4th quarter. Mackenzie Financial Corp now owns 624,092 shares of the business services provider’s stock valued at $20,420,000 after purchasing an additional 579,398 shares during the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Ritchie Bros. Auctioneers during the 4th quarter valued at $15,813,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.
NYSE RBA opened at $34.92 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.30. Ritchie Bros. Auctioneers Inc has a 1 year low of $30.76 and a 1 year high of $38.77. The firm has a market capitalization of $3.77 billion, a P/E ratio of 32.33, a PEG ratio of 4.00 and a beta of 0.80.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, May 9th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.04). Ritchie Bros. Auctioneers had a net margin of 10.10% and a return on equity of 14.47%. The firm had revenue of $303.40 million during the quarter, compared to analyst estimates of $268.69 million. During the same period in the previous year, the company earned $0.16 earnings per share. Ritchie Bros. Auctioneers’s revenue was up 16.6% on a year-over-year basis. On average, analysts expect that Ritchie Bros. Auctioneers Inc will post 1.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 29th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Tuesday, May 28th. Ritchie Bros. Auctioneers’s payout ratio is 66.67%.
RBA has been the subject of several analyst reports. Zacks Investment Research lowered Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. TD Securities increased their price objective on Ritchie Bros. Auctioneers from $28.00 to $30.00 and gave the company a “reduce” rating in a report on Tuesday, March 5th. Raymond James decreased their price objective on Ritchie Bros. Auctioneers from $38.00 to $34.50 and set a “market perform” rating for the company in a report on Monday, March 4th. Finally, ValuEngine lowered Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $36.28.
Ritchie Bros. Auctioneers Company Profile
Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved live on site auctions, online marketplaces, listing services, and private brokerage services. The company sells a range of used and unused equipment, including earthmoving equipment, truck trailers, government surplus, oil and gas equipment, and other industrial assets, as well as construction and heavy machinery.
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