Rentokil Initial PLC (NYSE:RTO) Shares Acquired by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp increased its stake in Rentokil Initial PLC by 36.8%, acquiring an additional 482,429 shares to reach a total of approximately 1.79 million shares worth $41.1 million.
• Institutional investors collectively own 9.91% of Rentokil Initial, with notable changes, including a 260.4% increase in position by Assetmark Inc.
• Shares of Rentokil Initial opened at $24.78, with a 12-month range between $19.60 and $34.07, and a market cap of $12.52 billion.

Alberta Investment Management Corp raised its position in Rentokil Initial PLC (NYSE:RTO - Free Report) by 36.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,794,900 shares of the company's stock after purchasing an additional 482,429 shares during the quarter. Alberta Investment Management Corp owned 0.36% of Rentokil Initial worth $41,103,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealthquest Corp bought a new position in Rentokil Initial in the first quarter worth approximately $66,000. Russell Investments Group Ltd. increased its stake in shares of Rentokil Initial by 63.9% in the fourth quarter. Russell Investments Group Ltd. now owns 3,287 shares of the company's stock worth $83,000 after acquiring an additional 1,281 shares during the period. Versant Capital Management Inc acquired a new stake in shares of Rentokil Initial in the first quarter worth $143,000. GAMMA Investing LLC boosted its position in 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 purchasing an additional 8,366 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC purchased a new stake in Rentokil Initial in the 4th quarter worth approximately $246,000. 9.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Rentokil Initial Trading Down 4.2%

Rentokil Initial stock traded down $1.03 during trading on Friday, reaching $23.74. 891,506 shares of the company were exchanged, compared to its average volume of 835,169. Rentokil Initial PLC has a 52-week low of $19.60 and a 52-week high of $34.07. The company has a market capitalization of $11.99 billion, a P/E ratio of 15.72 and a beta of 0.92. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.81 and a quick ratio of 0.72. The stock's 50 day simple moving average is $23.79 and its two-hundred day simple moving average is $23.62.

Rentokil Initial Company 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.