Ritchie Bros. Auctioneers (RBA) Declares $0.27 Dividend
Ritchie Bros. Auctioneers said on May 10, 2023 that its board of directors declared a regular quarterly dividend of $0.27 per share ($1.08 annualized). Previously, the company paid $0.27 per share.
Shares must be purchased before the ex-div date of May 26, 2023 to qualify for the dividend. Shareholders of record as of May 30, 2023 will receive the payment on June 20, 2023.
At the current share price of $54.53 / share, the stock's dividend yield is 1.98%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.79%, the lowest has been 1.23%, and the highest has been 2.87%. The standard deviation of yields is 0.28 (n=237).
The current dividend yield is 0.67 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.73. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.35%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 672 funds or institutions reporting positions in Ritchie Bros. Auctioneers. This is an increase of 124 owner(s) or 22.63% in the last quarter. Average portfolio weight of all funds dedicated to RBA is 0.34%, an increase of 4.90%. Total shares owned by institutions increased in the last three months by 25.11% to 137,235K shares. 
The put/call ratio of RBA is 0.51, indicating a bullish outlook.
Analyst Price Forecast Suggests 7.13% Downside
As of May 11, 2023, the average one-year price target for Ritchie Bros. Auctioneers is 50.64. The forecasts range from a low of 47.50 to a high of $54.87. The average price target represents a decrease of 7.13% from its latest reported closing price of 54.53.
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The projected annual revenue for Ritchie Bros. Auctioneers is 1,788MM, a decrease of 3.47%. The projected annual non-GAAP EPS is 2.51.
What are Other Shareholders Doing?
Massachusetts Financial Services holds 7,965K shares representing 4.38% ownership of the company. In it's prior filing, the firm reported owning 7,725K shares, representing an increase of 3.01%. The firm decreased its portfolio allocation in RBA by 84.91% over the last quarter.
Beutel, Goodman & Co holds 5,767K shares representing 3.17% ownership of the company. In it's prior filing, the firm reported owning 5,829K shares, representing a decrease of 1.07%. The firm decreased its portfolio allocation in RBA by 18.79% over the last quarter.
Independent Franchise Partners LLP holds 4,889K shares representing 2.69% ownership of the company. In it's prior filing, the firm reported owning 2,108K shares, representing an increase of 56.88%. The firm decreased its portfolio allocation in RBA by 99.80% over the last quarter.
ArrowMark Colorado Holdings holds 4,307K shares representing 2.37% ownership of the company. In it's prior filing, the firm reported owning 3,427K shares, representing an increase of 20.44%. The firm increased its portfolio allocation in RBA by 13.22% over the last quarter.
Luxor Capital Group holds 4,209K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 2,149K shares, representing an increase of 48.95%. The firm increased its portfolio allocation in RBA by 149.42% over the last quarter.
Ritchie Bros Auctioneers Background Information
(This description is provided by the company.)
Established in 1958, Ritchie Bros. is a global asset management and disposition company, oQering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer o ers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing the exclusive IronClad Assurance® equipment condition certi cation; Marketplace-E, a controlled marketplace o ering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty o ering privately negotiated sales. The company's suite of multichannel sales solutions also includes Ritchie Bros. Asset Solutions, a complete end-to-end asset management and disposition system. Ritchie Bros. also o ers sector-speciGc solutions including GovPlanet, TruckPlanet, and Kruse Energy, plus equipment Snancing and leasing through Ritchie Bros. Financial Services.
This story originally appeared on Fintel.