Neuberger Berman Group LLC lowered its position in Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 28.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,722,700 shares of the business services provider’s stock after selling 1,088,217 shares during the period. Neuberger Berman Group LLC owned approximately 2.54% of Ritchie Bros. Auctioneers worth $78,250,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Champlain Investment Partners LLC raised 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 period. Massachusetts Financial Services Co. MA raised 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 period. Riverbridge Partners LLC raised 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 period. Mondrian Investment Partners LTD raised its stake in Ritchie Bros. Auctioneers by 25.3% in the second quarter. Mondrian Investment Partners LTD now owns 2,769,446 shares of the business services provider’s stock worth $103,190,000 after buying an additional 559,556 shares during the period. Finally, CGOV Asset Management raised its stake in Ritchie Bros. Auctioneers by 18.6% in the first quarter. CGOV Asset Management now owns 3,298,901 shares of the business services provider’s stock worth $144,392,000 after buying an additional 518,440 shares during the period. Institutional investors own 96.14% of the company’s stock.

Ritchie Bros. Auctioneers Incorporated (NYSE RBA) opened at 29.74 on Friday. The stock has a market capitalization of $3.19 billion, a P/E ratio of 64.37 and a beta of 0.55. The company has a 50 day moving average of $28.22 and a 200-day moving average of $30.45. Ritchie Bros. Auctioneers Incorporated has a 52-week low of $26.68 and a 52-week high of $39.96.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, August 8th. The business services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the company posted $0.37 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Ritchie Bros. Auctioneers Incorporated will post $0.82 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.68 annualized dividend and a yield of 2.29%. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 144.68%.

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A number of equities research analysts have issued reports on RBA shares. Raymond James Financial, Inc. reduced their target price on shares of Ritchie Bros. Auctioneers from $33.50 to $29.50 and set a “market perform” rating on the stock in a report on Tuesday, July 11th. TD Securities reissued a “sell” rating on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, May 9th. 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. Scotiabank dropped their price objective on shares of Ritchie Bros. Auctioneers from $39.00 to $32.00 and set an “outperform” rating on the stock in a research report on Monday, July 10th. Finally, CIBC downgraded shares of Ritchie Bros. Auctioneers from a “sector outperform” rating to a “sector perform” rating and set a $28.00 price objective on the stock. in a research report on Monday, July 10th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $32.80.

In related news, CFO Sharon Ruth Driscoll purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were purchased at an average cost of $28.59 per share, with a total value of $28,590.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $28,590. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.39% of the company’s stock.

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.

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

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