Legacy Wealth Asset Management LLC Grows Stake in Ritchie Bros. Auctioneers Incorporated (NYSE:RBA)

Legacy Wealth Asset Management LLC raised its stake in Ritchie Bros. Auctioneers Incorporated (NYSE:RBAGet Rating) (TSE:RBA) by 4.7% during the fourth quarter, HoldingsChannel reports. The fund owned 9,853 shares of the business services provider’s stock after buying an additional 440 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Ritchie Bros. Auctioneers were worth $603,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its position in shares of Ritchie Bros. Auctioneers by 1,846.9% during the third quarter. Manchester Capital Management LLC now owns 623 shares of the business services provider’s stock valued at $38,000 after buying an additional 591 shares during the last quarter. Carroll Financial Associates Inc. boosted its position in shares of Ritchie Bros. Auctioneers by 70.1% during the fourth quarter. Carroll Financial Associates Inc. now owns 767 shares of the business services provider’s stock valued at $47,000 after buying an additional 316 shares during the last quarter. Curi Wealth Management LLC purchased a new stake in shares of Ritchie Bros. Auctioneers during the fourth quarter valued at $58,000. TFC Financial Management bought a new position in Ritchie Bros. Auctioneers in the fourth quarter valued at about $61,000. Finally, Clearstead Advisors LLC lifted its holdings in Ritchie Bros. Auctioneers by 53.1% in the third quarter. Clearstead Advisors LLC now owns 1,041 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 361 shares during the period. 81.62% of the stock is currently owned by hedge funds and other institutional investors.

In other Ritchie Bros. Auctioneers news, CEO Ann Fandozzi purchased 9,560 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The stock was purchased at an average cost of $52.25 per share, with a total value of $499,510.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.71% of the stock is currently owned by insiders.

NYSE RBA opened at $61.66 on Wednesday. The stock has a market capitalization of $6.83 billion, a PE ratio of 22.75, a P/E/G ratio of 6.03 and a beta of 1.12. The business has a 50 day simple moving average of $57.49 and a two-hundred day simple moving average of $60.97. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.21 and a quick ratio of 1.12. Ritchie Bros. Auctioneers Incorporated has a 1-year low of $48.65 and a 1-year high of $76.18.

Ritchie Bros. Auctioneers (NYSE:RBAGet Rating) (TSE:RBA) last released its quarterly earnings results on Monday, May 9th. The business services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $0.17 by $1.43. The business had revenue of $393.92 million during the quarter, compared to analysts’ expectations of $344.15 million. Ritchie Bros. Auctioneers had a return on equity of 28.84% and a net margin of 20.40%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. On average, analysts anticipate that Ritchie Bros. Auctioneers Incorporated will post 1.18 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 17th. Stockholders of record on Friday, May 27th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, May 26th. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is 36.90%.

Several research analysts have recently commented on the company. National Bank Financial decreased their price objective on Ritchie Bros. Auctioneers from $68.00 to $55.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 22nd. Robert W. Baird decreased their price objective on Ritchie Bros. Auctioneers from $82.00 to $70.00 in a research note on Tuesday, February 22nd. National Bankshares decreased their price objective on Ritchie Bros. Auctioneers from $68.00 to $55.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 22nd. Zacks Investment Research raised Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 11th. Finally, Bank of America raised Ritchie Bros. Auctioneers from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $51.00 to $61.00 in a research note on Friday, May 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $60.14.

Ritchie Bros. Auctioneers Profile (Get Rating)

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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