Burgundy Asset Management Ltd. cut its position in shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 4.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,515,424 shares of the business services provider’s stock after selling 223,608 shares during the period. Ritchie Bros. Auctioneers accounts for 1.3% of Burgundy Asset Management Ltd.’s holdings, making the stock its 29th biggest position. Burgundy Asset Management Ltd. owned about 4.21% of Ritchie Bros. Auctioneers worth $142,778,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC acquired a new position in Ritchie Bros. Auctioneers during the second quarter worth $175,728,000. Mondrian Investment Partners LTD raised its position in shares of Ritchie Bros. Auctioneers by 35.9% in the third quarter. Mondrian Investment Partners LTD now owns 3,763,686 shares of the business services provider’s stock valued at $148,477,000 after buying an additional 994,240 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Ritchie Bros. Auctioneers by 148.2% in the second quarter. Ameriprise Financial Inc. now owns 1,256,159 shares of the business services provider’s stock valued at $35,631,000 after buying an additional 750,038 shares during the last quarter. Marathon Asset Management LLP raised its position in shares of Ritchie Bros. Auctioneers by 54.9% in the third quarter. Marathon Asset Management LLP now owns 1,796,051 shares of the business services provider’s stock valued at $56,645,000 after buying an additional 636,529 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Ritchie Bros. Auctioneers by 51.3% in the third quarter. Mackenzie Financial Corp now owns 1,468,435 shares of the business services provider’s stock valued at $46,432,000 after buying an additional 497,750 shares during the last quarter. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Ritchie Bros. Auctioneers Inc (RBA) traded up $0.30 during mid-day trading on Friday, reaching $28.69. 681,300 shares of the company’s stock traded hands, compared to its average volume of 669,826. The company has a current ratio of 1.20, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $3,042.98, a price-to-earnings ratio of 33.80, a PEG ratio of 3.52 and a beta of 0.64. Ritchie Bros. Auctioneers Inc has a one year low of $24.08 and a one year high of $38.66.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its earnings results on Thursday, November 9th. The business services provider reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.05). The company had revenue of $141.05 million for the quarter, compared to analysts’ expectations of $139.96 million. Ritchie Bros. Auctioneers had a return on equity of 13.04% and a net margin of 11.43%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $0.20 EPS. sell-side analysts anticipate that Ritchie Bros. Auctioneers Inc will post 0.85 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, November 29th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.37%. The ex-dividend date is Tuesday, November 28th. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 111.48%.

In other Ritchie Bros. Auctioneers news, insider Karl William Werner sold 5,400 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $28.68, for a total transaction of $154,872.00. Following the completion of the transaction, the insider now owns 5,400 shares of the company’s stock, valued at $154,872. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.39% of the company’s stock.

RBA has been the subject of a number of recent research reports. Robert W. Baird reiterated a “buy” rating and issued a $33.00 target price on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, September 12th. Jefferies Group reiterated a “hold” rating and issued a $26.00 target price (down from $29.00) on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, October 10th. Oppenheimer reiterated a “hold” rating on shares of Ritchie Bros. Auctioneers in a research report on Monday, November 13th. Raymond James Financial reduced their target price on shares of Ritchie Bros. Auctioneers from $29.00 to $26.50 and set a “market perform” rating for the company in a research report on Monday, November 13th. Finally, National Bank Financial upgraded shares of Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $28.00 to $30.50 in a research report on Monday, November 20th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Ritchie Bros. Auctioneers has an average rating of “Hold” and a consensus price target of $29.45.

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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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