Bank of New York Mellon Corp Decreases Holdings in Ritchie Bros. Auctioneers Incorporated (NYSE:RBA)

Bank of New York Mellon Corp trimmed its holdings in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA – Get Rating) (TSE:RBA) by 14.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 654,984 shares of the business services provider’s stock after selling 114,559 shares during the quarter. Bank of New York Mellon Corp owned 0.59% of Ritchie Bros. Auctioneers worth $40,923,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. New Century Advisors LLC raised its position in shares of Ritchie Bros. Auctioneers by 99.1% during the 3rd quarter. New Century Advisors LLC now owns 436 shares of the business services provider’s stock valued at $27,000 after buying an additional 217 shares in the last quarter. Private Trust Co. NA purchased a new stake in Ritchie Bros. Auctioneers in the 2nd quarter worth about $45,000. BNP Paribas Arbitrage SA raised its position in Ritchie Bros. Auctioneers by 41.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,114 shares of the business services provider’s stock worth $72,000 after purchasing an additional 325 shares during the period. Signaturefd LLC raised its position in Ritchie Bros. Auctioneers by 28.6% in the 3rd quarter. Signaturefd LLC now owns 1,285 shares of the business services provider’s stock worth $80,000 after purchasing an additional 286 shares during the period. Finally, Twin Tree Management LP purchased a new stake in Ritchie Bros. Auctioneers in the 3rd quarter worth about $103,000. 81.09% of the stock is currently owned by hedge funds and other institutional investors.

Ritchie Bros. Auctioneers Trading Down 3.4 %

NYSE:RBA opened at $56.14 on Monday. Ritchie Bros. Auctioneers Incorporated has a 12 month low of $48.72 and a 12 month high of $72.73. The firm has a fifty day simple moving average of $60.42 and a 200-day simple moving average of $60.59. The company has a current ratio of 1.21, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $6.24 billion, a P/E ratio of 19.63, a PEG ratio of 3.43 and a beta of 0.91.

Ritchie Bros. Auctioneers (NYSE:RBA – Get Rating) (TSE:RBA) last posted its quarterly earnings data on Tuesday, February 21st. The business services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.50 by $0.10. Ritchie Bros. Auctioneers had a net margin of 18.44% and a return on equity of 25.58%. The business had revenue of $443.86 million during the quarter, compared to the consensus estimate of $430.21 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. On average, equities research analysts anticipate that Ritchie Bros. Auctioneers Incorporated will post 2.34 earnings per share for the current year.

Ritchie Bros. Auctioneers Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Tuesday, March 28th. Investors of record on Friday, March 17th will be issued a dividend of $1.08 per share. The ex-dividend date is Tuesday, March 21st. This represents a dividend yield of 1.8%. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 37.76%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RBA. National Bankshares increased their price objective on shares of Ritchie Bros. Auctioneers from $62.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 22nd. StockNews.com downgraded shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research note on Monday, November 28th. Robert W. Baird increased their price objective on shares of Ritchie Bros. Auctioneers from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, January 24th. Northcoast Research upgraded shares of Ritchie Bros. Auctioneers from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Monday, November 14th. Finally, Raymond James increased their price objective on shares of Ritchie Bros. Auctioneers from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, January 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.67.

About Ritchie Bros. Auctioneers

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Ritchie Bros. Auctioneers, Inc is an industrial auctioneer, which engages in the sale of equipment to on-site and online bidders. It operates through the following segments: Auctions and Marketplaces, Ritchie Bros. Financial Services and Mascus. The Auctions and Marketplaces segment consists of live on site auctions, online auctions and marketplaces, and brokerage service.