Swiss National Bank Boosts Stake in Ritchie Bros. Auctioneers Incorporated (NYSE:RBA)

Swiss National Bank increased its position in Ritchie Bros. Auctioneers Incorporated (NYSE:RBAGet Rating) (TSE:RBA) by 0.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 495,200 shares of the business services provider’s stock after purchasing an additional 4,100 shares during the period. Swiss National Bank owned 0.45% of Ritchie Bros. Auctioneers worth $32,161,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Beutel Goodman & Co Ltd. lifted its holdings in shares of Ritchie Bros. Auctioneers by 63.8% in the 1st quarter. Beutel Goodman & Co Ltd. now owns 5,492,048 shares of the business services provider’s stock valued at $324,530,000 after purchasing an additional 2,139,411 shares during the last quarter. Invesco Ltd. raised its stake in Ritchie Bros. Auctioneers by 19.2% during the 1st quarter. Invesco Ltd. now owns 4,652,139 shares of the business services provider’s stock valued at $274,617,000 after acquiring an additional 747,804 shares during the last quarter. Vanguard Group Inc. raised its stake in Ritchie Bros. Auctioneers by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 3,703,479 shares of the business services provider’s stock valued at $218,616,000 after acquiring an additional 90,212 shares during the last quarter. Jarislowsky Fraser Ltd raised its stake in Ritchie Bros. Auctioneers by 27.6% during the 2nd quarter. Jarislowsky Fraser Ltd now owns 2,680,267 shares of the business services provider’s stock valued at $174,016,000 after acquiring an additional 579,763 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Ritchie Bros. Auctioneers by 22.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,897,359 shares of the business services provider’s stock valued at $112,001,000 after acquiring an additional 352,776 shares during the last quarter. 82.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on RBA. Raymond James reduced their price objective on Ritchie Bros. Auctioneers from $62.00 to $55.00 and set a “market perform” rating for the company in a research note on Tuesday, November 8th. Bank of America downgraded Ritchie Bros. Auctioneers from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $74.00 to $55.00 in a research note on Tuesday, November 8th. Scotiabank reduced their price objective on Ritchie Bros. Auctioneers from $68.00 to $64.00 in a research note on Wednesday, October 5th. StockNews.com began coverage on Ritchie Bros. Auctioneers in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Finally, Northcoast Research upgraded Ritchie Bros. Auctioneers from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Ritchie Bros. Auctioneers presently has an average rating of “Hold” and a consensus target price of $59.67.

Ritchie Bros. Auctioneers Stock Performance

Shares of NYSE RBA opened at $55.99 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average price is $62.15 and its two-hundred day moving average price is $63.70. Ritchie Bros. Auctioneers Incorporated has a 52-week low of $48.65 and a 52-week high of $73.63. The stock has a market capitalization of $6.21 billion, a P/E ratio of 20.51, a P/E/G ratio of 4.60 and a beta of 1.01.

Ritchie Bros. Auctioneers (NYSE:RBAGet Rating) (TSE:RBA) last issued its earnings results on Monday, November 7th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. Ritchie Bros. Auctioneers had a net margin of 18.49% and a return on equity of 25.52%. The firm had revenue of $411.50 million for the quarter, compared to analysts’ expectations of $366.23 million. During the same quarter last year, the company posted $0.44 earnings per share. Ritchie Bros. Auctioneers’s revenue was up 24.8% on a year-over-year basis. As a group, sell-side analysts forecast that Ritchie Bros. Auctioneers Incorporated will post 1.76 earnings per share for the current year.

Ritchie Bros. Auctioneers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Wednesday, November 23rd will be issued a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $1.08 dividend on an annualized basis and a yield of 1.93%. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 39.56%.

About Ritchie Bros. Auctioneers

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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. It sells a range of used and unused commercial assets, including earthmoving equipment, truck tractors and trailers, government surplus, oil and gas equipment, and other industrial assets, as well as construction and heavy machinery.

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

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