Rentokil Initial plc (NYSE:RTO) Holdings Cut by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its stake in Rentokil Initial plc (NYSE:RTO) by 15.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,561,543 shares of the company’s stock after selling 277,592 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Rentokil Initial were worth $38,929,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new stake in Rentokil Initial in the 2nd quarter worth approximately $29,000. Valley Wealth Managers Inc. purchased a new stake in Rentokil Initial in the 3rd quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. lifted its position in Rentokil Initial by 403.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,052 shares of the company’s stock worth $31,000 after buying an additional 843 shares in the last quarter. Assetmark Inc. purchased a new stake in Rentokil Initial in the 3rd quarter worth approximately $36,000. Finally, GPS Wealth Strategies Group LLC bought a new position in shares of Rentokil Initial during the 2nd quarter valued at $38,000. Hedge funds and other institutional investors own 9.91% of the company’s stock.

Rentokil Initial Stock Down 1.1 %

Rentokil Initial stock opened at $25.71 on Friday. The company has a market capitalization of $12.98 billion, a P/E ratio of 18.11, a P/E/G ratio of 7.24 and a beta of 1.09. The firm’s fifty day simple moving average is $25.09 and its 200-day simple moving average is $27.89. The company has a current ratio of 1.04, a quick ratio of 0.96 and a debt-to-equity ratio of 0.75. Rentokil Initial plc has a 1-year low of $22.40 and a 1-year high of $34.07.

Analyst Ratings Changes

Separately, Redburn Atlantic downgraded shares of Rentokil Initial from a “buy” rating to a “neutral” rating in a report on Thursday, September 19th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.