Assetmark Inc. Buys 188,190 Shares of Rentokil Initial PLC $RTO

Key Points

• Assetmark Inc. increased its stake in Rentokil Initial by 29% in the first quarter, buying 188,190 additional shares for a total of 837,035 shares valued at about $26.35 million.
• Other institutional investors also raised or initiated positions, and institutions now own 9.91% of Rentokil Initial’s stock.
• Analyst sentiment is mixed but constructive overall: the consensus rating is Moderate Buy with a consensus price target of $34.50, while the stock recently traded around $30.43.

Assetmark Inc. boosted its position in shares of Rentokil Initial PLC (NYSE:RTO - Free Report) by 29.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 837,035 shares of the company's stock after buying an additional 188,190 shares during the quarter. Assetmark Inc. owned 0.17% of Rentokil Initial worth $26,350,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of Rentokil Initial by 222.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,163 shares of the company's stock worth $34,000 after buying an additional 802 shares during the period. GAMMA Investing LLC grew its position in Rentokil Initial by 76.5% in the 4th quarter. GAMMA Investing LLC now owns 1,232 shares of the company's stock valued at $36,000 after acquiring an additional 534 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Rentokil Initial in the 4th quarter valued at $39,000. V Square Quantitative Management LLC increased its stake in Rentokil Initial by 84.5% in the first quarter. V Square Quantitative Management LLC now owns 1,395 shares of the company's stock worth $44,000 after purchasing an additional 639 shares during the period. Finally, IFP Advisors Inc increased its stake in Rentokil Initial by 53.8% in the third quarter. IFP Advisors Inc now owns 1,972 shares of the company's stock worth $50,000 after purchasing an additional 690 shares during the period. Institutional investors own 9.91% of the company's stock.

Analysts Set New Price Targets

RTO has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Rentokil Initial from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. The Goldman Sachs Group upgraded shares of Rentokil Initial from a "neutral" rating to a "buy" rating in a report on Monday, July 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Rentokil Initial in a research report on Wednesday, June 24th. Finally, Zacks Research cut shares of Rentokil Initial from a "hold" rating to a "strong sell" rating in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.50.

Rentokil Initial Stock Up 0.0%

Shares of RTO stock opened at $30.43 on Friday. The stock's fifty day moving average price is $30.21 and its 200 day moving average price is $31.37. Rentokil Initial PLC has a 1-year low of $22.77 and a 1-year high of $34.67. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.07 and a current ratio of 1.16.

Rentokil Initial Company Profile

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.

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