Fort L.P. Invests $348,000 in Ritchie Bros. Auctioneers Inc (RBA)

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Fort L.P. bought a new stake in shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,644 shares of the business services provider’s stock, valued at approximately $348,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RBA. Stifel Financial Corp lifted its holdings in shares of Ritchie Bros. Auctioneers by 19.1% during the 4th quarter. Stifel Financial Corp now owns 63,814 shares of the business services provider’s stock valued at $2,090,000 after purchasing an additional 10,256 shares during the last quarter. Granite Investment Partners LLC lifted its holdings in shares of Ritchie Bros. Auctioneers by 10.8% during the 4th quarter. Granite Investment Partners LLC now owns 23,986 shares of the business services provider’s stock valued at $785,000 after purchasing an additional 2,347 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Ritchie Bros. Auctioneers by 35.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 43,418 shares of the business services provider’s stock valued at $1,421,000 after purchasing an additional 11,467 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Ritchie Bros. Auctioneers by 3.2% during the 4th quarter. CIBC Asset Management Inc now owns 59,017 shares of the business services provider’s stock valued at $1,931,000 after purchasing an additional 1,816 shares during the last quarter. Finally, Rehmann Capital Advisory Group purchased a new stake in shares of Ritchie Bros. Auctioneers during the 4th quarter valued at $94,000. 91.50% of the stock is currently owned by hedge funds and other institutional investors.

NYSE RBA opened at $34.01 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.11 and a current ratio of 1.37. Ritchie Bros. Auctioneers Inc has a 1 year low of $30.09 and a 1 year high of $38.77. The firm has a market capitalization of $3.70 billion, a P/E ratio of 31.49, a PEG ratio of 2.01 and a beta of 0.82.

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 15th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Thursday, February 14th. Ritchie Bros. Auctioneers’s payout ratio is 66.67%.

Several analysts have recently commented on the company. Bank of America set a $35.00 price objective on Ritchie Bros. Auctioneers and gave the company a “sell” rating in a report on Friday, March 1st. Royal Bank of Canada decreased their price objective on Ritchie Bros. Auctioneers from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Monday, March 4th. Zacks Investment Research lowered Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. ValuEngine lowered Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a report on Thursday, December 6th. Finally, Barrington Research reiterated a “hold” rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $37.06.

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About Ritchie Bros. Auctioneers

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. The company sells a range of used and unused equipment, including earthmoving equipment, truck trailers, government surplus, oil and gas equipment, and other industrial assets.

Further Reading: Net Margin

Want to see what other hedge funds are holding RBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA).

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

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