Invictus RG Purchases Shares of 8,362 Ritchie Bros. Auctioneers Inc (RBA)
Invictus RG purchased a new stake in Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,362 shares of the business services provider’s stock, valued at approximately $302,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Cutler Group LP increased its stake in Ritchie Bros. Auctioneers by 125.6% in the second quarter. Cutler Group LP now owns 4,688 shares of the business services provider’s stock valued at $159,000 after purchasing an additional 22,971 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in Ritchie Bros. Auctioneers in the third quarter valued at $210,000. We Are One Seven LLC bought a new stake in Ritchie Bros. Auctioneers in the third quarter valued at $216,000. Oppenheimer & Co. Inc. bought a new stake in Ritchie Bros. Auctioneers in the second quarter valued at $207,000. Finally, Tower Research Capital LLC TRC increased its stake in Ritchie Bros. Auctioneers by 197.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,036 shares of the business services provider’s stock valued at $275,000 after purchasing an additional 5,336 shares in the last quarter. 91.10% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on RBA shares. Scotiabank set a $39.00 price target on shares of Ritchie Bros. Auctioneers and gave the company a “hold” rating in a research note on Monday, August 13th. Barrington Research reaffirmed a “hold” rating on shares of Ritchie Bros. Auctioneers in a research note on Monday, August 13th. National Bank Financial decreased their price target on shares of Ritchie Bros. Auctioneers from $39.00 to $38.00 and set a “sector perform” rating for the company in a research note on Monday, November 12th. Zacks Investment Research downgraded shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research note on Friday, August 31st. Finally, Royal Bank of Canada lifted their price target on shares of Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the company a “sector perform” rating in a research note on Monday, August 13th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $36.00.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Thursday, November 8th. The business services provider reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $159.30 million during the quarter, compared to analysts’ expectations of $163.59 million. Ritchie Bros. Auctioneers had a net margin of 12.36% and a return on equity of 14.15%. The business’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the company earned $0.09 earnings per share. As a group, research analysts anticipate that Ritchie Bros. Auctioneers Inc will post 1.11 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Wednesday, November 28th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Tuesday, November 27th. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 88.89%.
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About Ritchie Bros. Auctioneers
Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved 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.
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