Montrusco Bolton Investments Inc. Bought New Holding in Ritchie Bros. Auctioneers Inc (RBA)

Montrusco Bolton Investments Inc. Bought New Holding in Ritchie Bros. Auctioneers Inc (RBA)

Montrusco Bolton Investments Inc. acquired a new stake in shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) in the 3rd quarter, HoldingsChannel reports. The fund acquired 112,573 shares of the business services provider’s stock, valued at approximately $4,059,000.

Several other large investors have also recently modified their holdings of the company. Baillie Gifford & Co. raised its stake in shares of Ritchie Bros. Auctioneers by 2.0% during the second quarter. Baillie Gifford & Co. now owns 11,224,012 shares of the business services provider’s stock valued at $382,894,000 after acquiring an additional 225,091 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Ritchie Bros. Auctioneers by 10.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,608,193 shares of the business services provider’s stock valued at $259,592,000 after acquiring an additional 722,199 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Ritchie Bros. Auctioneers by 1.2% during the second quarter. Janus Henderson Group PLC now owns 6,313,823 shares of the business services provider’s stock valued at $215,428,000 after acquiring an additional 73,866 shares during the last quarter. Fiera Capital Corp raised its stake in shares of Ritchie Bros. Auctioneers by 8,475.2% during the second quarter. Fiera Capital Corp now owns 2,709,764 shares of the business services provider’s stock valued at $92,435,000 after acquiring an additional 2,678,164 shares during the last quarter. Finally, Marathon Asset Management LLP raised its stake in shares of Ritchie Bros. Auctioneers by 0.6% during the second quarter. Marathon Asset Management LLP now owns 1,927,770 shares of the business services provider’s stock valued at $65,703,000 after acquiring an additional 10,725 shares during the last quarter. 94.09% of the stock is owned by hedge funds and other institutional investors.

RBA has been the subject of several recent analyst reports. ValuEngine raised shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Howard Weil downgraded shares of Ritchie Bros. Auctioneers from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, June 27th. Scotiabank downgraded shares of Ritchie Bros. Auctioneers from an “outperform” rating to a “sector perform” rating in a research note on Thursday, June 28th. Zacks Investment Research downgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a research note on Thursday, July 19th. Finally, Royal Bank of Canada boosted their price target on shares of Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the company a “sector perform” rating in a research report on Monday, August 13th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $36.11.

Shares of NYSE RBA opened at $34.84 on Wednesday. Ritchie Bros. Auctioneers Inc has a 1 year low of $24.08 and a 1 year high of $38.77. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.26. The stock has a market cap of $3.92 billion, a P/E ratio of 43.01, a P/E/G ratio of 2.53 and a beta of 0.70.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Thursday, August 9th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. Ritchie Bros. Auctioneers had a net margin of 12.36% and a return on equity of 13.42%. The company had revenue of $206.80 million for the quarter, compared to analysts’ expectations of $225.52 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. Ritchie Bros. Auctioneers’s quarterly revenue was up 24.4% on a year-over-year basis. As a group, equities analysts predict that Ritchie Bros. Auctioneers Inc will post 1.1 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 19th. Investors of record on Wednesday, August 29th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, August 28th. This represents a $0.72 annualized dividend and a dividend yield of 2.07%. This is a boost from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.17. Ritchie Bros. Auctioneers’s payout ratio is currently 88.89%.

In related news, SVP Kieran Colquhoun Holm sold 13,240 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $38.24, for a total transaction of $506,297.60. Following the transaction, the senior vice president now owns 11,278 shares in the company, valued at $431,270.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by insiders.

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 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.

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