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


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Legacy Wealth Asset Management LLC purchased a new stake in shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,724 shares of the business services provider’s stock, valued at approximately $537,000.

Other hedge funds have also added to or reduced their stakes in the company. Capital Asset Advisory Services LLC bought a new position in shares of Ritchie Bros. Auctioneers during the fourth quarter valued at $56,000. Curi Capital bought a new position in Ritchie Bros. Auctioneers during the fourth quarter worth $65,000. Fieldpoint Private Securities LLC bought a new position in Ritchie Bros. Auctioneers during the fourth quarter worth $71,000. Paces Ferry Wealth Advisors LLC bought a new position in Ritchie Bros. Auctioneers during the third quarter worth $85,000. Finally, IFP Advisors Inc raised its stake in Ritchie Bros. Auctioneers by 382.0% during the fourth quarter. IFP Advisors Inc now owns 2,092 shares of the business services provider’s stock worth $150,000 after buying an additional 1,658 shares during the last quarter. 80.25% of the stock is owned by hedge funds and other institutional investors.

In other Ritchie Bros. Auctioneers news, insider James J. Jeter sold 600 shares of the business’s stock in a transaction that occurred on Friday, March 19th. The shares were sold at an average price of $56.43, for a total value of $33,858.00. Following the completion of the transaction, the insider now owns 25,373 shares of the company’s stock, valued at approximately $1,431,798.39. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kieran Colquhoun Holm sold 6,778 shares of the business’s stock in a transaction that occurred on Thursday, March 4th. The stock was sold at an average price of $52.15, for a total transaction of $353,472.70. Following the completion of the transaction, the insider now directly owns 21,520 shares of the company’s stock, valued at approximately $1,122,268. The disclosure for this sale can be found here. Insiders have sold a total of 54,343 shares of company stock worth $3,054,464 in the last ninety days. 0.83% of the stock is currently owned by insiders.

Several research firms have weighed in on RBA. Bank of America downgraded shares of Ritchie Bros. Auctioneers from a “neutral” rating to an “underperform” rating and set a $55.00 price target for the company. in a research note on Thursday, February 4th. TD Securities reduced their price objective on shares of Ritchie Bros. Auctioneers from $68.00 to $57.00 and set a “hold” rating for the company in a report on Monday, February 22nd. Raymond James reduced their price objective on shares of Ritchie Bros. Auctioneers from $75.00 to $60.00 and set a “market perform” rating for the company in a report on Friday, February 19th. Zacks Investment Research cut shares of Ritchie Bros. Auctioneers from a “hold” rating to a “strong sell” rating in a report on Thursday, February 25th. Finally, National Bank Financial boosted their price target on shares of Ritchie Bros. Auctioneers from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Monday, March 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $58.36.

Ritchie Bros. Auctioneers stock opened at $61.41 on Thursday. The firm’s 50 day simple moving average is $56.24 and its 200 day simple moving average is $62.42. The company has a current ratio of 1.34, a quick ratio of 1.26 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $6.75 billion, a PE ratio of 38.87, a price-to-earnings-growth ratio of 4.50 and a beta of 1.14. Ritchie Bros. Auctioneers Incorporated has a 1-year low of $36.57 and a 1-year high of $78.64.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its earnings results on Wednesday, February 17th. The business services provider reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.07). The firm had revenue of $383.41 million for the quarter, compared to the consensus estimate of $369.50 million. Ritchie Bros. Auctioneers had a return on equity of 19.76% and a net margin of 13.03%. Research analysts forecast that Ritchie Bros. Auctioneers Incorporated will post 1.73 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 5th. Investors of record on Friday, February 12th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Thursday, February 11th. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 66.17%.

Ritchie Bros. Auctioneers Profile

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved live on site 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.

Further Reading: Certificate of Deposit (CD) For Risk Adverse Investors?

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

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