Rentokil Initial PLC (NYSE:RTO) Shares Bought by Koss Olinger Consulting LLC

Key Points

• Koss Olinger Consulting LLC increased its stake in Rentokil Initial PLC by 235.9%, acquiring an additional 55,896 shares, bringing its total holdings to 79,589 shares worth approximately $1.82 million.
• The company's stock price increased by 0.7%, with a 12-month trading range between $19.60 and $34.07, as investors track recent shifts in institutional ownership.
• Rentokil Initial announced a semi-annual dividend of $0.2738 per share, with a payout ratio of 45.70%, effective September 23rd for investors on record by August 15th.

Koss Olinger Consulting LLC grew its stake in shares of Rentokil Initial PLC (NYSE:RTO - Free Report) by 235.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,589 shares of the company's stock after purchasing an additional 55,896 shares during the quarter. Koss Olinger Consulting LLC's holdings in Rentokil Initial were worth $1,823,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in shares of Rentokil Initial by 23.8% during the first quarter. Envestnet Asset Management Inc. now owns 777,926 shares of the company's stock worth $17,815,000 after buying an additional 149,599 shares during the period. Norges Bank acquired a new position in shares of Rentokil Initial during the fourth quarter worth approximately $1,332,000. Gates Capital Management Inc. boosted its position in shares of Rentokil Initial by 21.0% during the fourth quarter. Gates Capital Management Inc. now owns 6,258,013 shares of the company's stock worth $158,453,000 after buying an additional 1,084,845 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co boosted its position in shares of Rentokil Initial by 5.2% during the first quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 228,697 shares of the company's stock worth $5,237,000 after buying an additional 11,236 shares during the period. Finally, Cetera Investment Advisers boosted its position in shares of Rentokil Initial by 277.4% during the fourth quarter. Cetera Investment Advisers now owns 32,661 shares of the company's stock worth $827,000 after buying an additional 24,006 shares during the period. 9.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RTO. Sanford C. Bernstein downgraded Rentokil Initial from a "market perform" rating to an "underperform" rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Rentokil Initial in a research report on Monday, July 21st.

Rentokil Initial Price Performance

RTO traded up $0.19 during trading on Wednesday, reaching $25.24. The stock had a trading volume of 721,430 shares, compared to its average volume of 804,196. The firm has a market capitalization of $12.75 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 4.32 and a beta of 0.92. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 0.59. Rentokil Initial PLC has a 1-year low of $19.60 and a 1-year high of $34.07. The stock has a 50 day moving average of $23.88 and a two-hundred day moving average of $23.65.

Rentokil Initial Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, August 15th will be given a $0.2738 dividend. This represents a yield of 240.0%. The ex-dividend date is Friday, August 15th. Rentokil Initial's dividend payout ratio is 45.70%.

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.