Capital World Investors Buys 5,562 Shares of Rentokil Initial plc (NYSE:RTO)

Capital World Investors grew its position in Rentokil Initial plc (NYSE:RTO) by 6.6% during the first quarter, HoldingsChannel reports. The firm owned 89,776 shares of the company’s stock after buying an additional 5,562 shares during the quarter. Capital World Investors’ holdings in Rentokil Initial were worth $2,707,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the company. Gates Capital Management Inc. grew its position in shares of Rentokil Initial by 11.4% in the fourth quarter. Gates Capital Management Inc. now owns 5,155,193 shares of the company’s stock valued at $147,490,000 after purchasing an additional 528,409 shares during the last quarter. Brown Advisory Inc. increased its position in Rentokil Initial by 2.1% during the fourth quarter. Brown Advisory Inc. now owns 3,884,020 shares of the company’s stock worth $111,122,000 after acquiring an additional 81,134 shares during the period. Norges Bank acquired a new position in Rentokil Initial during the 4th quarter valued at $77,547,000. Schroder Investment Management Group boosted its holdings in Rentokil Initial by 13.8% in the 4th quarter. Schroder Investment Management Group now owns 2,025,479 shares of the company’s stock valued at $57,949,000 after purchasing an additional 246,253 shares during the period. Finally, Clearbridge Investments LLC grew its position in Rentokil Initial by 5.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,015,514 shares of the company’s stock worth $60,768,000 after purchasing an additional 109,561 shares during the last quarter. 9.91% of the stock is owned by institutional investors.

Rentokil Initial Stock Up 0.8 %

Rentokil Initial stock opened at $30.75 on Friday. Rentokil Initial plc has a 12-month low of $23.39 and a 12-month high of $41.55. The stock has a 50-day simple moving average of $29.02 and a 200 day simple moving average of $28.17.

Rentokil Initial Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Friday, August 9th will be given a dividend of $0.2034 per share. The ex-dividend date is Friday, August 9th. This represents a dividend yield of 1.7%.

Wall Street Analysts Forecast Growth

RTO has been the topic of several recent research reports. UBS Group raised Rentokil Initial from a “sell” rating to a “neutral” rating in a report on Monday, July 1st. JPMorgan Chase & Co. began coverage on Rentokil Initial in a research note on Tuesday, April 23rd. They issued a “neutral” rating on the stock. Finally, Sanford C. Bernstein raised Rentokil Initial from an “underperform” rating to a “market perform” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Rentokil Initial currently has an average rating of “Hold” and an average target price of $29.00.

Rentokil Initial Profile

Rentokil Initial plc, together with its subsidiaries, provides route-based services in North America, the United Kingdom, rest of Europe, Asia, the Pacific, and internationally. It offers a range of pest control services for rodents, and flying and crawling insects, as well as other forms of wildlife management for commercial customers.