Granite Investment Partners LLC increased its stake in Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 13.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,120 shares of the business services provider’s stock after buying an additional 7,621 shares during the period. Granite Investment Partners LLC’s holdings in Ritchie Bros. Auctioneers were worth $1,814,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Bank & Trust raised its position in shares of Ritchie Bros. Auctioneers by 3.8% in the second quarter. First Bank & Trust now owns 5,387 shares of the business services provider’s stock valued at $155,000 after buying an additional 196 shares in the last quarter. FNY Managed Accounts LLC bought a new position in shares of Ritchie Bros. Auctioneers during the first quarter valued at $176,000. Forward Management LLC raised its position in shares of Ritchie Bros. Auctioneers by 11.0% in the second quarter. Forward Management LLC now owns 6,137 shares of the business services provider’s stock valued at $176,000 after buying an additional 609 shares in the last quarter. World Asset Management Inc raised its position in shares of Ritchie Bros. Auctioneers by 0.7% in the first quarter. World Asset Management Inc now owns 6,613 shares of the business services provider’s stock valued at $218,000 after buying an additional 43 shares in the last quarter. Finally, Comerica Bank raised its position in shares of Ritchie Bros. Auctioneers by 0.7% in the first quarter. Comerica Bank now owns 6,737 shares of the business services provider’s stock valued at $221,000 after buying an additional 44 shares in the last quarter. 97.26% of the stock is owned by institutional investors.

Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) opened at 27.10 on Friday. The stock has a 50 day moving average of $28.18 and a 200-day moving average of $30.79. The company has a market capitalization of $2.90 billion, a P/E ratio of 39.85 and a beta of 0.55. 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 announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The firm had revenue of $166.20 million for the quarter, compared to analyst estimates of $161.85 million. Ritchie Bros. Auctioneers had a net margin of 8.96% and a return on equity of 14.72%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 EPS. On average, equities analysts forecast that Ritchie Bros. Auctioneers Incorporated will post $1.05 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Wednesday, August 23rd. Ritchie Bros. Auctioneers’s payout ratio is 144.68%.

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Several research analysts have weighed in on RBA shares. Royal Bank Of Canada set a $41.00 price objective on shares of Ritchie Bros. Auctioneers and gave the stock a “buy” rating in a report on Saturday, April 22nd. TheStreet lowered shares of Ritchie Bros. Auctioneers from a “b” rating to a “c+” rating in a report on Monday, May 8th. BidaskClub raised shares of Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Jefferies Group LLC reissued a “hold” rating and set a $29.00 price objective on shares of Ritchie Bros. Auctioneers in a report on Monday, May 15th. Finally, Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a report on Saturday, July 8th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $33.46.

Ritchie Bros. Auctioneers Company Profile

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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