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Assetmark Inc. Grows Position in Rentokil Initial PLC $RTO

Rentokil Initial logo with Business Services background
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Key Points

  • Assetmark Inc. increased its stake in Rentokil Initial (NYSE:RTO) by 38.5% in Q4, buying an additional 180,332 shares to hold 648,845 shares valued at about $19.1 million (≈0.13% of the company).
  • Analyst sentiment is favorable with a MarketBeat consensus of "Moderate Buy" and a $34.50 target; recent upgrades include UBS and Bank of America to "buy," and the analyst mix is 1 Strong Buy, 6 Buy, 3 Hold and 2 Sell.
  • Rentokil announced a dividend of $0.412 per share payable May 19 to holders of record April 10, with the article reporting a yield of 245.0%.
  • Interested in Rentokil Initial? Here are five stocks we like better.

Assetmark Inc. boosted its holdings in Rentokil Initial PLC (NYSE:RTO - Free Report) by 38.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 648,845 shares of the company's stock after acquiring an additional 180,332 shares during the quarter. Assetmark Inc. owned about 0.13% of Rentokil Initial worth $19,115,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Rentokil Initial by 76.5% in the fourth quarter. GAMMA Investing LLC now owns 1,232 shares of the company's stock worth $36,000 after acquiring an additional 534 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Rentokil Initial by 171.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,726 shares of the company's stock worth $43,000 after acquiring an additional 1,089 shares in the last quarter. IFP Advisors Inc raised its position 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 acquiring an additional 690 shares in the last quarter. Signaturefd LLC raised its position in Rentokil Initial by 40.9% in the fourth quarter. Signaturefd LLC now owns 3,054 shares of the company's stock worth $90,000 after acquiring an additional 886 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Rentokil Initial by 40.0% in the second quarter. Russell Investments Group Ltd. now owns 4,582 shares of the company's stock worth $110,000 after acquiring an additional 1,309 shares in the last quarter. Hedge funds and other institutional investors own 9.91% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. UBS Group upgraded Rentokil Initial from a "neutral" rating to a "buy" rating in a research report on Thursday, March 12th. Rothschild & Co Redburn upgraded Rentokil Initial from a "sell" rating to a "neutral" rating in a research report on Wednesday, March 11th. Weiss Ratings restated a "hold (c-)" rating on shares of Rentokil Initial in a research report on Thursday, January 22nd. Zacks Research cut Rentokil Initial from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 4th. Finally, Bank of America upgraded Rentokil Initial from a "neutral" rating to a "buy" rating and set a $34.00 price target for the company in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $34.50.

Read Our Latest Research Report on Rentokil Initial

Rentokil Initial Trading Down 0.4%

Rentokil Initial stock opened at $34.37 on Thursday. The stock has a 50-day moving average price of $31.76 and a 200 day moving average price of $29.83. Rentokil Initial PLC has a 52 week low of $21.68 and a 52 week high of $34.67. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76.

Rentokil Initial Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Tuesday, May 19th. Investors of record on Friday, April 10th will be given a dividend of $0.412 per share. This represents a yield of 245.0%. The ex-dividend date is Friday, April 10th.

Rentokil Initial Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding RTO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rentokil Initial PLC (NYSE:RTO - Free Report).

Institutional Ownership by Quarter for Rentokil Initial (NYSE:RTO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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