Mondrian Investment Partners LTD raised its position in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 25.3% during the second quarter, Holdings Channel reports. The fund owned 2,769,446 shares of the business services provider’s stock after buying an additional 559,556 shares during the period. Ritchie Bros. Auctioneers accounts for about 3.0% of Mondrian Investment Partners LTD’s holdings, making the stock its 7th largest position. Mondrian Investment Partners LTD’s holdings in Ritchie Bros. Auctioneers were worth $103,190,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. CGOV Asset Management increased its stake 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. Champlain Investment Partners LLC increased its stake in Ritchie Bros. Auctioneers by 87.9% in the first quarter. Champlain Investment Partners LLC now owns 2,868,155 shares of the business services provider’s stock worth $94,362,000 after buying an additional 1,341,355 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Ritchie Bros. Auctioneers by 57.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,498,984 shares of the business services provider’s stock worth $115,116,000 after buying an additional 1,271,836 shares during the last quarter. KAMES CAPITAL plc acquired a new stake in Ritchie Bros. Auctioneers during the first quarter worth $25,500,000. Finally, Riverbridge Partners LLC increased its stake in Ritchie Bros. Auctioneers by 18.4% in the second quarter. Riverbridge Partners LLC now owns 3,640,160 shares of the business services provider’s stock worth $104,618,000 after buying an additional 565,290 shares during the last quarter. Institutional investors own 97.26% of the company’s stock.

Shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) opened at 27.19 on Friday. The company has a market cap of $2.91 billion, a PE ratio of 58.85 and a beta of 0.55. Ritchie Bros. Auctioneers Incorporated has a 1-year low of $26.68 and a 1-year high of $39.96. The firm’s 50 day moving average is $28.20 and its 200-day moving average is $30.82.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted 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 in the prior year, the company posted $0.37 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts expect that Ritchie Bros. Auctioneers Incorporated will post $1.05 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Wednesday, August 23rd. Ritchie Bros. Auctioneers’s payout ratio is 144.68%.

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A number of equities research analysts have recently weighed in on RBA shares. TD Securities reiterated a “sell” rating on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, May 9th. Raymond James Financial, Inc. dropped their price target on shares of Ritchie Bros. Auctioneers from $33.50 to $29.50 and set a “market perform” rating for the company in a research report on Tuesday, July 11th. Zacks Investment Research downgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 9th. CIBC reiterated an “outperform” rating and issued a $36.00 price target on shares of Ritchie Bros. Auctioneers in a research report on Thursday, April 13th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $29.00 price objective (down from $32.00) on shares of Ritchie Bros. Auctioneers in a research note on Friday, April 14th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $33.46.

About Ritchie Bros. Auctioneers

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.

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

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