Rentokil Initial (NYSE:RTO) Cut to Equal Weight at Morgan Stanley

Morgan Stanley lowered shares of Rentokil Initial (NYSE:RTO) from an overweight rating to an equal weight rating in a research report report published on Tuesday, Marketbeat Ratings reports.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group raised Rentokil Initial from a “neutral” rating to a “buy” rating in a research report on Monday, July 6th. Zacks Research downgraded Rentokil Initial from a “hold” rating to a “strong sell” rating in a research report on Monday, June 15th. Investec upgraded shares of Rentokil Initial to a “buy” rating in a research note on Wednesday, September 23rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Rentokil Initial in a research note on Monday, August 3rd. Finally, Wall Street Zen downgraded shares of Rentokil Initial from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.90.

Rentokil Initial Price Performance

Shares of RTO stock opened at $19.82 on Tuesday. Rentokil Initial has a 52 week low of $19.50 and a 52 week high of $34.67. The firm has a 50 day moving average of $23.43 and a two-hundred day moving average of $28.52.

Rentokil Initial Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Friday, August 14th were issued a $0.2240 dividend. This represents a dividend yield of 188.0%. The ex-dividend date was Friday, August 14th. This is a decrease from Rentokil Initial’s previous dividend of $0.4120.

Institutional Investors Weigh In On Rentokil Initial

Several institutional investors have recently added to or reduced their stakes in RTO. Integrated Wealth Concepts LLC purchased a new position in shares of Rentokil Initial during the second quarter worth about $57,000. NewEdge Advisors LLC lifted its holdings in shares of Rentokil Initial by 332.7% in the 2nd quarter. NewEdge Advisors LLC now owns 39,213 shares of the company’s stock valued at $1,122,000 after purchasing an additional 30,151 shares during the last quarter. Continuum Advisory LLC purchased a new stake in shares of Rentokil Initial in the 2nd quarter valued at about $42,000. Versant Capital Management Inc boosted its position in shares of Rentokil Initial by 10.8% in the 2nd quarter. Versant Capital Management Inc now owns 9,965 shares of the company’s stock valued at $285,000 after purchasing an additional 970 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of Rentokil Initial by 50.5% in the 1st quarter. Parallel Advisors LLC now owns 2,107 shares of the company’s stock valued at $66,000 after purchasing an additional 707 shares during the period. Hedge funds and other institutional investors own 9.91% of the company’s stock.

About Rentokil Initial

Rentokil Initial plc is a business services company specializing in pest control, hygiene, and related workplace services. Through brands including Rentokil, Terminix, Initial, and Ambius, it provides commercial and residential pest management, washroom hygiene, restroom services, interior landscaping, and other solutions designed to support healthier, safer, and more productive environments.

The company serves customers across a broad range of industries, including healthcare, hospitality, food service, manufacturing, retail, and property management.