Rentokil Initial (NYSE:RTO) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Rentokil Initial (NYSE:RTO) from a hold rating to a buy rating in a report released on Saturday morning.

RTO has been the topic of a number of other research reports. Rothschild & Co Redburn raised Rentokil Initial from a “sell” rating to a “neutral” rating in a research report on Wednesday, March 11th. Morgan Stanley raised Rentokil Initial from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 6th. Bank of America upgraded Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Thursday, December 18th. Zacks Research lowered Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft cut Rentokil Initial from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Rentokil Initial presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Rentokil Initial Stock Performance

Shares of Rentokil Initial stock opened at $30.57 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.12 and a quick ratio of 1.03. The firm has a 50-day moving average of $31.59 and a 200-day moving average of $29.08. Rentokil Initial has a 52-week low of $19.60 and a 52-week high of $33.47.

Rentokil Initial Announces Dividend

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

Hedge Funds Weigh In On Rentokil Initial

Institutional investors have recently modified their holdings of the business. Liberty One Investment Management LLC acquired a new stake in Rentokil Initial in the third quarter valued at about $39,946,000. QVIDTVM Management LLC boosted its stake in shares of Rentokil Initial by 669.1% in the 3rd quarter. QVIDTVM Management LLC now owns 1,704,486 shares of the company’s stock valued at $43,038,000 after purchasing an additional 1,482,865 shares in the last quarter. Sunriver Management LLC grew its holdings 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 purchasing an additional 1,102,353 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Rentokil Initial by 143.5% during the 2nd quarter. Bank of America Corp DE now owns 1,821,709 shares of the company’s stock valued at $43,721,000 after purchasing an additional 1,073,471 shares during the last quarter. Finally, Optiver Holding B.V. increased its position in Rentokil Initial by 121.1% during the 3rd quarter. Optiver Holding B.V. now owns 1,466,714 shares of the company’s stock worth $37,035,000 after purchasing an additional 803,280 shares in the last quarter. Institutional investors and hedge funds own 9.91% of the company’s stock.

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.