Skandinaviska Enskilda Banken AB publ Purchases 8,114 Shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA)

Posted by on May 14th, 2023

Skandinaviska Enskilda Banken AB publ raised its position in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA – Get Rating) (TSE:RBA) by 127.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,499 shares of the business services provider’s stock after acquiring an additional 8,114 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Ritchie Bros. Auctioneers were worth $838,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Hollencrest Capital Management acquired a new position in shares of Ritchie Bros. Auctioneers in the fourth quarter valued at about $48,000. Ronald Blue Trust Inc. grew its stake in shares of Ritchie Bros. Auctioneers by 176.7% in the fourth quarter. Ronald Blue Trust Inc. now owns 855 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 546 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Ritchie Bros. Auctioneers by 41.2% in the second quarter. BNP Paribas Arbitrage SA now owns 1,114 shares of the business services provider’s stock valued at $72,000 after acquiring an additional 325 shares in the last quarter. Signaturefd LLC grew its stake in shares of Ritchie Bros. Auctioneers by 28.6% in the third quarter. Signaturefd LLC now owns 1,285 shares of the business services provider’s stock valued at $80,000 after acquiring an additional 286 shares in the last quarter. Finally, Gulf International Bank UK Ltd grew its stake in shares of Ritchie Bros. Auctioneers by 46.1% in the fourth quarter. Gulf International Bank UK Ltd now owns 1,490 shares of the business services provider’s stock valued at $85,000 after acquiring an additional 470 shares in the last quarter. Institutional investors own 81.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Robert W. Baird lowered their price objective on Ritchie Bros. Auctioneers from $66.00 to $64.00 in a research note on Monday, March 20th. OTR Global upgraded Ritchie Bros. Auctioneers to a “positive” rating in a research note on Thursday, May 4th. Raymond James raised their price objective on Ritchie Bros. Auctioneers from $55.00 to $60.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 24th. National Bankshares boosted their target price on shares of Ritchie Bros. Auctioneers from $62.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 22nd. Finally, StockNews.com assumed coverage on shares of Ritchie Bros. Auctioneers in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.14.

Ritchie Bros. Auctioneers Stock Performance

Shares of Ritchie Bros. Auctioneers stock opened at $53.29 on Friday. The company’s 50 day moving average price is $56.47 and its two-hundred day moving average price is $57.80. The firm has a market capitalization of $5.93 billion, a P/E ratio of 54.38, a P/E/G ratio of 3.49 and a beta of 0.89. Ritchie Bros. Auctioneers Incorporated has a fifty-two week low of $48.72 and a fifty-two week high of $72.73. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.21 and a quick ratio of 1.08.

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

Ritchie Bros. Auctioneers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Tuesday, May 30th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, May 26th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.03%. Ritchie Bros. Auctioneers’s payout ratio is presently 110.20%.

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.

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Institutional Ownership by Quarter for Ritchie Bros. Auctioneers (NYSE:RBA)

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