Bayesian Capital Management LP Sells 13,400 Shares of Rentokil Initial plc (NYSE:RTO)

Bayesian Capital Management LP trimmed its holdings in shares of Rentokil Initial plc (NYSE:RTO) by 45.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 16,087 shares of the company’s stock after selling 13,400 shares during the period. Bayesian Capital Management LP’s holdings in Rentokil Initial were worth $485,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James & Associates increased its position in shares of Rentokil Initial by 7.5% during the 4th quarter. Raymond James & Associates now owns 283,966 shares of the company’s stock worth $8,124,000 after purchasing an additional 19,872 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Rentokil Initial by 959.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,164 shares of the company’s stock worth $4,983,000 after buying an additional 157,722 shares during the period. Iridian Asset Management LLC CT grew its position in shares of Rentokil Initial by 151.0% during the 4th quarter. Iridian Asset Management LLC CT now owns 247,130 shares of the company’s stock worth $7,070,000 after buying an additional 148,656 shares during the period. NewEdge Wealth LLC grew its position in shares of Rentokil Initial by 18.0% during the 4th quarter. NewEdge Wealth LLC now owns 13,270 shares of the company’s stock worth $380,000 after buying an additional 2,027 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Rentokil Initial by 116.0% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,400 shares of the company’s stock worth $1,842,000 after acquiring an additional 34,588 shares during the last quarter. 9.91% of the stock is owned by institutional investors.

Rentokil Initial Trading Up 0.7 %

Shares of Rentokil Initial stock traded up $0.22 during trading on Wednesday, reaching $30.85. The company’s stock had a trading volume of 118,476 shares, compared to its average volume of 648,078. The business’s 50-day moving average price is $29.15 and its 200-day moving average price is $28.23. Rentokil Initial plc has a 52 week low of $23.39 and a 52 week high of $40.81.

Rentokil Initial Cuts Dividend

The firm 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 $0.2034 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a dividend yield of 1.7%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RTO. Barclays raised shares of Rentokil Initial to a “strong-buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. started coverage on shares of Rentokil Initial in a research note on Tuesday, April 23rd. They issued a “neutral” rating on the stock. Sanford C. Bernstein raised shares of Rentokil Initial from an “underperform” rating to a “market perform” rating in a research report on Monday, July 22nd. Finally, UBS Group upgraded shares of Rentokil Initial from a “sell” rating to a “neutral” rating in a report on Monday, July 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Rentokil Initial presently has an average rating of “Hold” and a consensus price target of $29.00.

Rentokil Initial Company 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.