Schroder Investment Management Group Sells 654,268 Shares of Rentokil Initial PLC $RTO

Schroder Investment Management Group cut its holdings in Rentokil Initial PLC (NYSE:RTO) by 17.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,196,266 shares of the company’s stock after selling 654,268 shares during the quarter. Schroder Investment Management Group’s holdings in Rentokil Initial were worth $78,916,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its position in Rentokil Initial by 105.8% during the third quarter. Envestnet Asset Management Inc. now owns 1,553,740 shares of the company’s stock valued at $39,232,000 after purchasing an additional 798,660 shares during the last quarter. Liberty One Investment Management LLC purchased a new position in shares of Rentokil Initial in the 3rd quarter worth $39,946,000. Clark Estates Inc. NY bought a new stake in shares of Rentokil Initial in the 3rd quarter worth about $8,332,000. Nichols & Pratt Advisers LLP MA increased its holdings in shares of Rentokil Initial by 5.9% in the 3rd quarter. Nichols & Pratt Advisers LLP MA now owns 871,415 shares of the company’s stock worth $22,003,000 after buying an additional 48,184 shares during the last quarter. Finally, Sunriver Management LLC raised its position in shares of Rentokil Initial by 115.5% during the 2nd quarter. Sunriver Management LLC now owns 2,057,126 shares of the company’s stock valued at $49,371,000 after buying an additional 1,102,353 shares in the last quarter. Hedge funds and other institutional investors own 9.91% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on RTO shares. Rothschild & Co Redburn downgraded shares of Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Morgan Stanley raised Rentokil Initial from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft lowered Rentokil Initial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rentokil Initial in a report on Friday, November 21st. Finally, Bank of America raised Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Rentokil Initial has a consensus rating of “Hold” and an average target price of $34.00.

Rentokil Initial Stock Performance

Shares of NYSE:RTO opened at $31.61 on Tuesday. The business has a 50 day simple moving average of $31.38 and a two-hundred day simple moving average of $28.44. Rentokil Initial PLC has a 1 year low of $19.60 and a 1 year high of $33.46. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.03 and a current ratio of 1.12.

Rentokil Initial Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, May 19th. Investors of record on Friday, April 10th will be issued a dividend of $0.412 per share. The ex-dividend date is Friday, April 10th. This represents a yield of 266.0%.

About Rentokil Initial

Rentokil Initial PLC is a global business services company specializing in pest control, hygiene and workwear services. Headquartered in Crawley, West Sussex, United Kingdom, the company delivers outsourced solutions designed to protect people, preserve assets and enhance workplaces for both commercial and residential customers.

Under the Rentokil Pest Control brand, the company offers services ranging from routine inspections and treatment of insects, rodents and birds to specialised programmes for food manufacturing and healthcare environments.