Royal Bank of Canada Has $6.21 Million Stake in Rentokil Initial PLC $RTO

Royal Bank of Canada boosted its stake in Rentokil Initial PLC (NYSE:RTO) by 87.6% during the 1st quarter, HoldingsChannel reports. The fund owned 197,383 shares of the company’s stock after acquiring an additional 92,149 shares during the quarter. Royal Bank of Canada’s holdings in Rentokil Initial were worth $6,213,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its holdings in shares of Rentokil Initial by 38.5% in the fourth quarter. Assetmark Inc. now owns 648,845 shares of the company’s stock valued at $19,115,000 after purchasing an additional 180,332 shares in the last quarter. Nichols & Pratt Advisers LLP MA grew its holdings in shares of Rentokil Initial by 14.4% during the fourth quarter. Nichols & Pratt Advisers LLP MA now owns 997,112 shares of the company’s stock worth $29,375,000 after buying an additional 125,697 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in Rentokil Initial in the 4th quarter valued at approximately $2,941,000. Bleakley Financial Group LLC lifted its stake in Rentokil Initial by 36.9% in the 4th quarter. Bleakley Financial Group LLC now owns 61,391 shares of the company’s stock valued at $1,809,000 after acquiring an additional 16,553 shares in the last quarter. Finally, QRG Capital Management Inc. acquired a new position in Rentokil Initial during the 1st quarter worth approximately $1,079,000. Institutional investors own 9.91% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on RTO shares. The Goldman Sachs Group upgraded shares of Rentokil Initial from a “neutral” rating to a “buy” rating in a report on Monday, July 6th. Weiss Ratings restated a “hold (c)” rating on shares of Rentokil Initial in a research note on Wednesday, June 24th. Wall Street Zen cut Rentokil Initial from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Zacks Research lowered Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Rentokil Initial in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $31.90.

Rentokil Initial Price Performance

Shares of NYSE RTO opened at $24.57 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76. Rentokil Initial PLC has a 12 month low of $23.26 and a 12 month high of $34.67. The stock has a 50 day moving average of $28.59 and a 200-day moving average of $30.86.

Rentokil Initial Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, August 14th will be issued a $0.224 dividend. This represents a dividend yield of 192.0%. The ex-dividend date is Friday, August 14th.

Rentokil Initial 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.