Dimensional Fund Advisors LP Trims Stock Holdings in Rentokil Initial PLC $RTO

Key Points

• Dimensional Fund Advisors cut its Rentokil Initial stake by 45.9% in the first quarter, selling 138,308 shares and retaining 163,253 shares valued at approximately $5.1 million.
• Rentokil Initial shares opened at $24.57, below their 50-day and 200-day moving averages, and remained near the lower end of their 12-month range of $23.26 to $34.67.
• Analyst sentiment is mixed, with ratings ranging from “strong buy” to “strong sell,” though the consensus view is “Moderate Buy” with a target price of $31.90.

Dimensional Fund Advisors LP decreased its holdings in shares of Rentokil Initial PLC (NYSE:RTO - Free Report) by 45.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,253 shares of the company's stock after selling 138,308 shares during the quarter. Dimensional Fund Advisors LP's holdings in Rentokil Initial were worth $5,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. 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 valued at $19,115,000 after acquiring an additional 180,332 shares during the period. Nichols & Pratt Advisers LLP MA increased its holdings in Rentokil Initial by 14.4% during the 4th quarter. Nichols & Pratt Advisers LLP MA now owns 997,112 shares of the company's stock worth $29,375,000 after acquiring an additional 125,697 shares during the period. Teachers Retirement System of The State of Kentucky bought a new stake in Rentokil Initial during the 4th quarter worth approximately $2,941,000. Bleakley Financial Group LLC lifted its stake in Rentokil Initial by 36.9% in the 4th quarter. Bleakley Financial Group LLC now owns 61,391 shares of the company's stock worth $1,809,000 after purchasing an additional 16,553 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in Rentokil Initial in the 1st quarter worth approximately $1,079,000. Hedge funds and other institutional investors own 9.91% of the company's stock.

Rentokil Initial Price Performance

Rentokil Initial stock opened at $24.57 on Wednesday. The firm has a fifty day simple moving average of $28.59 and a two-hundred day simple moving average of $30.86. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.16 and a quick ratio of 1.07. Rentokil Initial PLC has a twelve month low of $23.26 and a twelve month high of $34.67.

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 paid a $0.224 dividend. This represents a dividend yield of 192.0%. The ex-dividend date of this dividend is Friday, August 14th.

Analysts Set New Price Targets

A number of research firms have recently commented on RTO. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Rentokil Initial in a research report on Monday, August 3rd. Wall Street Zen downgraded Rentokil Initial from a "buy" rating to a "hold" rating in a research report on Monday, July 20th. Zacks Research cut shares of Rentokil Initial from a "hold" rating to a "strong sell" rating in a research report on Monday, June 15th. The Goldman Sachs Group raised shares of Rentokil Initial from a "neutral" rating to a "buy" rating in a research note on Monday, July 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Rentokil Initial in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.90.

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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