Balefire LLC Reduces Position in Rentokil Initial PLC $RTO

Key Points

• Balefire LLC cut its Rentokil Initial stake by 72.5% in the second quarter, selling 64,678 shares and retaining 24,585 shares valued at approximately $703,000.
• Analyst sentiment remains mixed but leans positive: Rentokil has an overall “Moderate Buy” rating and an average price target of $31.90, compared with shares opening at $24.41.
• Institutional investors own 9.91% of the company, while Rentokil’s shares trade near their 12-month low of $23.26; the company also announced a $0.224 dividend payable September 22 to eligible shareholders.

Balefire LLC lessened its stake in shares of Rentokil Initial PLC (NYSE:RTO - Free Report) by 72.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,585 shares of the company's stock after selling 64,678 shares during the quarter. Balefire LLC's holdings in Rentokil Initial were worth $703,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its position in shares of Rentokil Initial by 38.5% in the fourth quarter. Assetmark Inc. now owns 648,845 shares of the company's stock worth $19,115,000 after acquiring an additional 180,332 shares during the last quarter. Nichols & Pratt Advisers LLP MA increased its position in Rentokil Initial by 14.4% during the fourth quarter. Nichols & Pratt Advisers LLP MA now owns 997,112 shares of the company's stock worth $29,375,000 after purchasing an additional 125,697 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Rentokil Initial in the 4th quarter valued at $2,941,000. Bleakley Financial Group LLC grew its stake in shares of Rentokil Initial by 36.9% during the 4th quarter. Bleakley Financial Group LLC now owns 61,391 shares of the company's stock valued at $1,809,000 after buying an additional 16,553 shares during the period. Finally, QRG Capital Management Inc. purchased a new stake in shares of Rentokil Initial during the 1st quarter valued at $1,079,000. Institutional investors and hedge funds own 9.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Rentokil Initial in a research report on Wednesday, June 24th. Zacks Research downgraded Rentokil Initial from a "hold" rating to a "strong sell" rating in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Rentokil Initial in a research note on Monday. The Goldman Sachs Group upgraded Rentokil Initial from a "neutral" rating to a "buy" rating in a report on Monday, July 6th. Finally, BNP Paribas Exane lowered Rentokil Initial from an "outperform" rating to a "neutral" rating and set a $26.70 price objective on the stock. in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $31.90.

Rentokil Initial Price Performance

Shares of Rentokil Initial stock opened at $24.41 on Friday. Rentokil Initial PLC has a twelve month low of $23.26 and a twelve month high of $34.67. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.76. The company has a fifty day moving average price of $28.92 and a 200 day moving average price of $31.02.

Rentokil Initial Cuts Dividend

The business also recently announced a dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Friday, August 14th will be given a $0.224 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a dividend yield of 192.0%.

Rentokil Initial 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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