Champlain Investment Partners LLC reduced its stake in Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 16.6% during the first quarter, HoldingsChannel reports. The firm owned 5,645,210 shares of the business services provider’s stock after selling 1,121,040 shares during the quarter. Ritchie Bros. Auctioneers accounts for about 1.7% of Champlain Investment Partners LLC’s investment portfolio, making the stock its 9th largest holding. Champlain Investment Partners LLC owned approximately 0.05% of Ritchie Bros. Auctioneers worth $191,937,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of RBA. Massachusetts Financial Services Co. MA raised its holdings in Ritchie Bros. Auctioneers by 9.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,718,774 shares of the business services provider’s stock valued at $285,278,000 after buying an additional 750,283 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Ritchie Bros. Auctioneers by 2.1% in the 1st quarter. William Blair Investment Management LLC now owns 3,558,623 shares of the business services provider’s stock valued at $120,993,000 after buying an additional 73,089 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in Ritchie Bros. Auctioneers by 1.7% in the 1st quarter. Eagle Asset Management Inc. now owns 3,425,066 shares of the business services provider’s stock valued at $116,448,000 after buying an additional 57,519 shares during the last quarter. Fiera Capital Corp raised its holdings in Ritchie Bros. Auctioneers by 11.8% in the 1st quarter. Fiera Capital Corp now owns 2,415,995 shares of the business services provider’s stock valued at $82,003,000 after buying an additional 255,705 shares during the last quarter. Finally, Norges Bank bought a new position in Ritchie Bros. Auctioneers in the 4th quarter valued at approximately $45,133,000. Institutional investors own 89.82% of the company’s stock.
Ritchie Bros. Auctioneers stock opened at $34.61 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.30 and a quick ratio of 1.16. Ritchie Bros. Auctioneers Inc has a 52-week low of $30.76 and a 52-week high of $38.77. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 3.96 and a beta of 0.80.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 29th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, May 28th. This represents a $0.72 annualized dividend and a yield of 2.08%. Ritchie Bros. Auctioneers’s payout ratio is 66.67%.
A number of research analysts recently issued reports on the stock. Bank of America set a $35.00 price objective on shares of Ritchie Bros. Auctioneers and gave the company a “sell” rating in a report on Friday, March 1st. Royal Bank of Canada dropped their price objective on shares of Ritchie Bros. Auctioneers from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Monday, March 4th. National Bank Financial dropped their price objective on shares of Ritchie Bros. Auctioneers from $35.00 to $34.00 and set a “sector perform” rating for the company in a report on Monday, May 13th. CIBC reiterated a “hold” rating and issued a $37.00 price objective on shares of Ritchie Bros. Auctioneers in a report on Wednesday, May 15th. Finally, Barrington Research reiterated a “hold” rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Ritchie Bros. Auctioneers presently has a consensus rating of “Hold” and an average price target of $36.28.
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Ritchie Bros. Auctioneers Company Profile
Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved live on site 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, as well as construction and heavy machinery.
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