Pembroke Management LTD Raises Stake in Ritchie Bros. Auctioneers Incorporated (RBA)

Pembroke Management LTD raised its position in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 488.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 395,600 shares of the business services provider’s stock after buying an additional 328,400 shares during the period. Pembroke Management LTD owned approximately 0.37% of Ritchie Bros. Auctioneers worth $11,941,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. CGOV Asset Management boosted its position in Ritchie Bros. Auctioneers by 150.2% in the first quarter. CGOV Asset Management now owns 6,956,054 shares of the business services provider’s stock valued at $304,466,000 after buying an additional 4,175,593 shares during the last quarter. Burgundy Asset Management Ltd. boosted its position in Ritchie Bros. Auctioneers by 3.0% in the first quarter. Burgundy Asset Management Ltd. now owns 4,748,682 shares of the business services provider’s stock valued at $156,232,000 after buying an additional 139,456 shares during the last quarter. Riverbridge Partners LLC boosted its position in Ritchie Bros. Auctioneers by 18.4% in the second quarter. Riverbridge Partners LLC now owns 3,640,160 shares of the business services provider’s stock valued at $104,618,000 after buying an additional 565,290 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Ritchie Bros. Auctioneers by 57.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,498,984 shares of the business services provider’s stock valued at $115,116,000 after buying an additional 1,271,836 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its position in Ritchie Bros. Auctioneers by 87.9% in the first quarter. Champlain Investment Partners LLC now owns 2,868,155 shares of the business services provider’s stock valued at $94,362,000 after buying an additional 1,341,355 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Shares of Ritchie Bros. Auctioneers Incorporated (RBA) opened at 27.80 on Tuesday. Ritchie Bros. Auctioneers Incorporated has a 1-year low of $26.68 and a 1-year high of $39.96. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 60.17 and a beta of 0.55. The company has a 50-day moving average price of $28.15 and a 200 day moving average price of $30.73.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $166.20 million for the quarter, compared to analyst estimates of $161.85 million. Ritchie Bros. Auctioneers had a return on equity of 14.72% and a net margin of 8.96%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 EPS. On average, equities research analysts predict that Ritchie Bros. Auctioneers Incorporated will post $1.05 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.45%. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 144.68%.

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RBA has been the topic of several recent research reports. National Bank Financial reiterated a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a research report on Thursday, June 29th. Jefferies Group LLC restated a “hold” rating and issued a $29.00 price target on shares of Ritchie Bros. Auctioneers in a research report on Friday, May 5th. Zacks Investment Research cut Ritchie Bros. Auctioneers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 9th. CIBC cut Ritchie Bros. Auctioneers from a “sector outperform” rating to a “sector perform” rating and set a $28.00 price target on the stock. in a research report on Monday, July 10th. Finally, TD Securities restated a “sell” rating on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, May 9th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price 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.