Rentokil Initial plc (NYSE:RTO) Sees Significant Decline in Short Interest

Rentokil Initial plc (NYSE:RTO) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 1,750,000 shares, a decrease of 40.1% from the February 28th total of 2,920,000 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 727,000 shares, the short-interest ratio is currently 2.4 days.

Institutional Trading of Rentokil Initial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Keystone Financial Services acquired a new position in shares of Rentokil Initial in the fourth quarter valued at approximately $236,000. Janus Henderson Group PLC grew its position in Rentokil Initial by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 16,990,179 shares of the company’s stock valued at $423,573,000 after buying an additional 617,227 shares during the last quarter. ABS Direct Equity Fund LLC increased its stake in Rentokil Initial by 28.1% in the 4th quarter. ABS Direct Equity Fund LLC now owns 160,000 shares of the company’s stock valued at $4,051,000 after buying an additional 35,100 shares during the period. Stephens Inc. AR raised its position in Rentokil Initial by 6.1% during the 4th quarter. Stephens Inc. AR now owns 431,185 shares of the company’s stock worth $10,918,000 after buying an additional 24,699 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Rentokil Initial in the 4th quarter worth $257,000. 9.91% of the stock is owned by hedge funds and other institutional investors.

Rentokil Initial Stock Performance

NYSE:RTO traded down $0.24 during trading hours on Friday, reaching $22.92. 772,779 shares of the company’s stock were exchanged, compared to its average volume of 727,189. Rentokil Initial has a 1-year low of $20.60 and a 1-year high of $34.07. The company has a quick ratio of 0.96, a current ratio of 1.04 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $11.57 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 7.95 and a beta of 1.14. The company has a 50-day moving average of $24.20 and a 200 day moving average of $24.85.

Rentokil Initial Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 4th will be issued a dividend of $0.3825 per share. This represents a dividend yield of 2.4%. The ex-dividend date is Friday, April 4th. Rentokil Initial’s dividend payout ratio is currently 43.71%.

Analyst Upgrades and Downgrades

RTO has been the topic of several research analyst reports. Citigroup upgraded shares of Rentokil Initial to a “strong-buy” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Rentokil Initial in a research report on Friday, March 7th. Four analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Rentokil Initial has a consensus rating of “Moderate Buy”.

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.