Rentokil Initial PLC (NYSE:RTO) Receives $34.50 Average Target Price from Brokerages

Rentokil Initial PLC (NYSE:RTO) has earned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $34.50.

A number of research firms recently weighed in on RTO. Weiss Ratings reissued a “hold (c-)” rating on shares of Rentokil Initial in a research report on Thursday, January 22nd. UBS Group raised Rentokil Initial from a “neutral” rating to a “buy” rating in a research note on Thursday, March 12th. Deutsche Bank Aktiengesellschaft lowered Rentokil Initial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Rothschild & Co Redburn upgraded Rentokil Initial from a “sell” rating to a “neutral” rating in a report on Wednesday, March 11th. Finally, Oppenheimer increased their target price on Rentokil Initial from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 10th.

Hedge Funds Weigh In On Rentokil Initial

Hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. increased its position in shares of Rentokil Initial by 5.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 816,863 shares of the company’s stock worth $24,065,000 after acquiring an additional 40,024 shares during the period. Van Diest Capital LLC purchased a new stake in shares of Rentokil Initial in the fourth quarter valued at approximately $343,000. Vident Advisory LLC bought a new position in Rentokil Initial in the fourth quarter worth approximately $329,000. Millennium Management LLC bought a new position in Rentokil Initial in the fourth quarter worth approximately $939,000. Finally, III Capital Management increased its holdings in Rentokil Initial by 15.6% during the 4th quarter. III Capital Management now owns 185,132 shares of the company’s stock worth $5,454,000 after purchasing an additional 25,000 shares during the period. 9.91% of the stock is currently owned by institutional investors.

Rentokil Initial Trading Up 0.0%

NYSE RTO opened at $32.79 on Friday. The stock has a 50 day moving average price of $31.56 and a 200-day moving average price of $29.34. Rentokil Initial has a one year low of $19.60 and a one year high of $33.47.

Rentokil Initial Announces Dividend

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

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.