ABC Arbitrage SA Invests $1.20 Million in Rentokil Initial PLC (NYSE:RTO)

Key Points

• ABC Arbitrage SA purchased 52,432 shares of Rentokil Initial PLC, valued at approximately $1.2 million, indicating increased investor interest in the company.
• Rentokil Initial has announced a semi-annual dividend of $0.2738 per share, slated for payment on September 23rd, which reflects a yield of 240.0%.
• Analyst ratings have shown mixed reactions, with Sanford C. Bernstein downgrading Rentokil to "underperform", while Deutsche Bank reissued a "buy" rating, highlighting differing outlooks on the stock's performance.

ABC Arbitrage SA bought a new position in Rentokil Initial PLC (NYSE:RTO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 52,432 shares of the company's stock, valued at approximately $1,201,000.

Several other institutional investors have also recently made changes to their positions in the company. Wealthquest Corp purchased a new stake in shares of Rentokil Initial in the 1st quarter worth approximately $66,000. Russell Investments Group Ltd. grew its stake in shares of Rentokil Initial by 63.9% in the 4th quarter. Russell Investments Group Ltd. now owns 3,287 shares of the company's stock worth $83,000 after buying an additional 1,281 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of Rentokil Initial in the 1st quarter worth approximately $143,000. GAMMA Investing LLC grew its stake in shares of Rentokil Initial by 996.0% in the 1st quarter. GAMMA Investing LLC now owns 9,206 shares of the company's stock worth $211,000 after buying an additional 8,366 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC purchased a new stake in shares of Rentokil Initial in the 4th quarter worth approximately $246,000. Institutional investors own 9.91% of the company's stock.

Wall Street Analyst Weigh In

RTO has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Rentokil Initial in a research note on Monday, July 21st. Sanford C. Bernstein downgraded Rentokil Initial from a "market perform" rating to an "underperform" rating in a research note on Thursday, May 15th.

Rentokil Initial Stock Up 0.7%

RTO traded up $0.18 during trading on Friday, hitting $25.25. 1,052,612 shares of the company's stock traded hands, compared to its average volume of 870,814. The company's 50 day simple moving average is $23.84 and its two-hundred day simple moving average is $23.64. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 0.59. Rentokil Initial PLC has a 12-month low of $19.60 and a 12-month high of $34.07. The stock has a market capitalization of $12.76 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 4.31 and a beta of 0.92.

Rentokil Initial Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, August 15th will be paid a $0.2738 dividend. This represents a dividend yield of 240.0%. The ex-dividend date is Friday, August 15th. Rentokil Initial's dividend payout ratio (DPR) is 45.70%.

About Rentokil Initial

Rentokil Initial plc, together with its subsidiaries, provides route-based services in North America, the United Kingdom, rest of Europe, Asia, the Pacific, and internationally. It offers a range of pest control services for rodents, and flying and crawling insects, as well as other forms of wildlife management for commercial customers.