Rentokil Initial PLC $RTO Shares Sold by Sunriver Management LLC

Sunriver Management LLC lowered its position in Rentokil Initial PLC (NYSE:RTO) by 3.5% in the third quarter, Holdings Channel.com reports. The fund owned 1,985,245 shares of the company’s stock after selling 71,881 shares during the period. Rentokil Initial makes up 5.4% of Sunriver Management LLC’s investment portfolio, making the stock its 4th largest holding. Sunriver Management LLC’s holdings in Rentokil Initial were worth $50,127,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in shares of Rentokil Initial by 171.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,726 shares of the company’s stock valued at $43,000 after purchasing an additional 1,089 shares during the period. Russell Investments Group Ltd. increased its holdings in Rentokil Initial by 40.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,582 shares of the company’s stock valued at $110,000 after buying an additional 1,309 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Rentokil Initial by 88.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,723 shares of the company’s stock valued at $113,000 after buying an additional 2,213 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Rentokil Initial by 24.3% in the 3rd quarter. Versant Capital Management Inc now owns 6,914 shares of the company’s stock valued at $175,000 after buying an additional 1,352 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Rentokil Initial by 122.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 7,610 shares of the company’s stock worth $183,000 after acquiring an additional 4,196 shares during the period. Institutional investors and hedge funds own 9.91% of the company’s stock.

Rentokil Initial Trading Up 0.4%

Shares of NYSE RTO traded up $0.12 during mid-day trading on Friday, hitting $32.71. 180,212 shares of the stock were exchanged, compared to its average volume of 1,611,052. Rentokil Initial PLC has a twelve month low of $19.60 and a twelve month high of $33.47. The stock’s fifty day simple moving average is $31.51 and its two-hundred day simple moving average is $28.53. 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 Dividend Announcement

The firm also recently declared 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. This represents a yield of 266.0%. The ex-dividend date of this dividend is Friday, April 10th.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rentokil Initial in a research report on Friday, November 21st. Deutsche Bank Aktiengesellschaft downgraded Rentokil Initial from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rentokil Initial in a research note on Thursday, January 22nd. Oppenheimer raised their target price on Rentokil Initial from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Morgan Stanley raised Rentokil Initial from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.50.

Rentokil Initial Company Profile

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.