Ritchie Bros. Auctioneers (USA) (RBA) : Royce Associates Lp reduced its stake in Ritchie Bros. Auctioneers (USA) by 21.38% during the most recent quarter end. The investment management company now holds a total of 3,917,140 shares of Ritchie Bros. Auctioneers (USA) which is valued at $146,070,151 after selling 1,065,070 shares in Ritchie Bros. Auctioneers (USA) , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Ritchie Bros. Auctioneers (USA) makes up approximately 0.91% of Royce Associates Lp’s portfolio.
Other Hedge Funds, Including , Millennium Management added RBA to its portfolio by purchasing 9,391 company shares during the most recent quarter which is valued at $350,190.Parkside Financial Bank Trust reduced its stake in RBA by selling 99 shares or 3.27% in the most recent quarter. The Hedge Fund company now holds 2,932 shares of RBA which is valued at $109,012. Ritchie Bros. Auctioneers (USA) makes up approx 0.05% of Parkside Financial Bank Trust’s portfolio. Blackrock Institutional Trust Company N.a. sold out all of its stake in RBA during the most recent quarter. The investment firm sold 9,862 shares of RBA which is valued $345,466. Quantbot Technologies Lp added RBA to its portfolio by purchasing 598 company shares during the most recent quarter which is valued at $20,404. Trust Co Of Vermont sold out all of its stake in RBA during the most recent quarter. The investment firm sold 150 shares of RBA which is valued $5,316.
Ritchie Bros. Auctioneers (USA) opened for trading at $37.02 and hit $37.19 on the upside on Monday, eventually ending the session at $37.1, with a gain of 0.30% or 0.11 points. The heightened volatility saw the trading volume jump to 3,15,112 shares. Company has a market cap of $3,958 M.
On the company’s financial health, Ritchie Bros. Auctioneers (USA) reported $0.20 EPS for the quarter, based on the information available during the earnings call on Nov 9, 2016. Analyst had a consensus estimate of $0.20. The company had revenue of $128.88 million for the quarter, compared to analysts expectations of $121.91 million. The company’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.
Investors should note that on Oct 27, 2016, Ritchie Bros. Auctioneers (USA) announced a cash dividend of $0.2400. The company’s management has announced Dec 28, 2016 as the ex-dividend date and fixed the record date on Dec 30, 2016. The payable date has been fixed on Jan 13, 2017.
Many Wall Street Analysts have commented on Ritchie Bros. Auctioneers (USA). Ritchie Bros. Auctioneers (USA) was Upgraded by BofA/Merrill to ” Neutral” on Aug 31, 2016. Company shares were Reiterated by RBC Capital Mkts on Aug 31, 2016 to “Outperform”, Firm has raised the Price Target to $ 40 from a previous price target of $32 .Macquarie Initiated Ritchie Bros. Auctioneers (USA) on Aug 26, 2016 to “Outperform”, Price Target of the shares are set at $34.
Ritchie Bros. Auctioneers Incorporated is an auctioneer of industrial equipment. The Company is engaged in providing unreserved auction services to equipment buyers and sellers. Ritchie Bros. focuses on the sale of heavy machinery. The Company operates through two segments: Core Auction segment and EquipmentOne segment. Core Auction segment offers a network of auction locations that conduct live unreserved auctions with both on-site and online bidding. EquipmentOne segment is a secure online marketplace that facilitates private equipment transactions. The Company sells equipment through unreserved auctions at around 44 auction sites around the world. Through the Companys unreserved auctions and online marketplaces it sells a range of used and unused industrial assets including equipment trucks and other assets used in the construction transportation agricultural material handling mining forestry energy and marine industries.