ABS Direct Equity Fund LLC Sells 130,000 Shares of Rentokil Initial PLC $RTO

Key Points

• ABS Direct Equity Fund LLC sold 130,000 shares of Rentokil Initial PLC, reducing its holdings by 89.7% to 15,000 shares, valued at $360,000.
• Several hedge funds increased their stakes in Rentokil Initial, with Parallel Advisors LLC boosting holdings by 416.9% during the second quarter.
• Deutsche Bank maintained a "buy" rating on Rentokil Initial, which currently has a consensus rating of "Moderate Buy" among analysts.

ABS Direct Equity Fund LLC trimmed its holdings in Rentokil Initial PLC (NYSE:RTO - Free Report) by 89.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,000 shares of the company's stock after selling 130,000 shares during the period. ABS Direct Equity Fund LLC's holdings in Rentokil Initial were worth $360,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Parallel Advisors LLC boosted its holdings in Rentokil Initial by 416.9% in the second quarter. Parallel Advisors LLC now owns 1,132 shares of the company's stock worth $27,000 after purchasing an additional 913 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of Rentokil Initial by 668.3% in the first quarter. Brooklyn Investment Group now owns 1,598 shares of the company's stock worth $37,000 after buying an additional 1,390 shares during the last quarter. State of Wyoming bought a new stake in shares of Rentokil Initial during the 1st quarter worth about $46,000. Cape Investment Advisory Inc. boosted its stake in shares of Rentokil Initial by 67.4% during the 1st quarter. Cape Investment Advisory Inc. now owns 2,519 shares of the company's stock worth $58,000 after acquiring an additional 1,014 shares in the last quarter. Finally, Wealthquest Corp acquired a new position in shares of Rentokil Initial during the 1st quarter valued at about $66,000. Institutional investors and hedge funds own 9.91% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Rentokil Initial in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Rentokil Initial presently has a consensus rating of "Moderate Buy".

Rentokil Initial Trading Up 2.6%

Rentokil Initial stock opened at $24.73 on Friday. Rentokil Initial PLC has a 52 week low of $19.60 and a 52 week high of $27.37. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.72 and a current ratio of 0.81. The firm has a market capitalization of $12.50 billion, a PE ratio of 16.38, a PEG ratio of 4.20 and a beta of 0.94. The business's 50-day simple moving average is $24.59 and its 200-day simple moving average is $23.59.

Rentokil Initial Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, August 15th were issued a dividend of $0.2738 per share. The ex-dividend date was Friday, August 15th. This represents a dividend yield of 240.0%. Rentokil Initial's payout ratio is 21.85%.

Rentokil Initial Profile

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.

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