CIBC Asset Management Inc decreased its position in Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,888 shares of the business services provider’s stock after selling 649 shares during the period. CIBC Asset Management Inc’s holdings in Ritchie Bros. Auctioneers were worth $1,202,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of RBA. Morgan Stanley raised its position in Ritchie Bros. Auctioneers by 1.7% in the first quarter. Morgan Stanley now owns 451,080 shares of the business services provider’s stock worth $14,841,000 after buying an additional 7,478 shares during the last quarter. Mackenzie Financial Corp raised its position in Ritchie Bros. Auctioneers by 2,029.1% in the first quarter. Mackenzie Financial Corp now owns 480,485 shares of the business services provider’s stock worth $15,808,000 after buying an additional 457,917 shares during the last quarter. CGOV Asset Management raised its position in Ritchie Bros. Auctioneers by 150.2% in the first quarter. CGOV Asset Management now owns 6,956,054 shares of the business services provider’s stock worth $304,466,000 after buying an additional 4,175,593 shares during the last quarter. Granite Investment Partners LLC raised its position in Ritchie Bros. Auctioneers by 88.5% in the first quarter. Granite Investment Partners LLC now owns 55,499 shares of the business services provider’s stock worth $1,826,000 after buying an additional 26,063 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Ritchie Bros. Auctioneers by 8.6% in the first quarter. Bank of America Corp DE now owns 871,136 shares of the business services provider’s stock worth $28,661,000 after buying an additional 69,062 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Ritchie Bros. Auctioneers Incorporated (NYSE RBA) opened at 27.10 on Friday. Ritchie Bros. Auctioneers Incorporated has a one year low of $26.68 and a one year high of $39.96. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 39.85 and a beta of 0.55. The stock has a 50 day moving average of $28.18 and a 200 day moving average of $30.79.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Ritchie Bros. Auctioneers had a net margin of 8.96% and a return on equity of 14.72%. The business had revenue of $166.20 million for the quarter, compared to analysts’ expectations of $161.85 million. During the same period last year, the company earned $0.37 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts forecast that Ritchie Bros. Auctioneers Incorporated will post $1.05 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.68 annualized dividend and a dividend yield of 2.51%. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 144.68%.

COPYRIGHT VIOLATION WARNING: “CIBC Asset Management Inc Sells 649 Shares of Ritchie Bros. Auctioneers Incorporated (RBA)” was first published by Watch List News and is owned by of Watch List News. If you are accessing this article on another publication, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this article can be read at https://www.watchlistnews.com/cibc-asset-management-inc-sells-649-shares-of-ritchie-bros-auctioneers-incorporated-rba/1476764.html.

A number of equities analysts recently weighed in on RBA shares. TD Securities restated a “sell” rating on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, May 9th. BidaskClub lowered shares of Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Royal Bank Of Canada set a $40.00 target price on shares of Ritchie Bros. Auctioneers and gave the company a “buy” rating in a report on Wednesday. Jefferies Group LLC reiterated a “hold” rating and issued a $29.00 target price on shares of Ritchie Bros. Auctioneers in a report on Friday, July 14th. Finally, Zacks Investment Research upgraded shares of Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a report on Saturday, July 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $33.46.

Ritchie Bros. Auctioneers Company Profile

Ritchie Bros Auctioneers Inc is a Canada-based holding company. The Company is an industrial auctioneer and used equipment distributor, selling used equipment and other assets. Its segments include Core Auction, which is a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding, and Other, which includes its EquipmentOne and Mascus International Holding B.V.

Want to see what other hedge funds are holding RBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA).

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

Receive News & Ratings for Ritchie Bros. Auctioneers Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ritchie Bros. Auctioneers Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.