Motley Fool Asset Management LLC Sells 354,549 Shares of Rentokil Initial PLC (NYSE:RTO)

Key Points

• Motley Fool Asset Management LLC has reduced its stake in Rentokil Initial PLC by 75%, now holding 118,263 shares worth approximately $2.7 million.
• Other institutional investors, like JPMorgan Chase & Co. and Rockefeller Capital Management, have significantly increased their stakes, with JPMorgan up 91.1% and Rockefeller by 109.4%.
• Despite a recent dividend declaration, analysts are divided on the stock, with Sanford C. Bernstein downgrading it to "underperform" while Deutsche Bank maintains a "buy" rating.

Motley Fool Asset Management LLC trimmed its stake in shares of Rentokil Initial PLC (NYSE:RTO - Free Report) by 75.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,263 shares of the company's stock after selling 354,549 shares during the period. Motley Fool Asset Management LLC's holdings in Rentokil Initial were worth $2,708,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Wealthquest Corp bought a new stake in Rentokil Initial during the first quarter valued at approximately $66,000. Russell Investments Group Ltd. grew its position in Rentokil Initial by 63.9% during the fourth quarter. Russell Investments Group Ltd. now owns 3,287 shares of the company's stock valued at $83,000 after buying an additional 1,281 shares during the period. Versant Capital Management Inc bought a new stake in Rentokil Initial during the first quarter valued at approximately $143,000. GAMMA Investing LLC grew its position in Rentokil Initial by 996.0% during the first quarter. GAMMA Investing LLC now owns 9,206 shares of the company's stock valued at $211,000 after buying an additional 8,366 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC bought a new stake in Rentokil Initial during the fourth quarter valued at approximately $246,000. 9.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RTO has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Rentokil Initial in a research report on Monday, July 21st. Sanford C. Bernstein lowered shares of Rentokil Initial from a "market perform" rating to an "underperform" rating in a research report on Thursday, May 15th.

Rentokil Initial Price Performance

Shares of RTO traded down $0.63 during mid-day trading on Friday, reaching $24.51. The stock had a trading volume of 494,231 shares, compared to its average volume of 950,623. The firm has a market cap of $12.38 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 4.37 and a beta of 0.92. Rentokil Initial PLC has a 12 month low of $19.60 and a 12 month high of $34.07. The business has a fifty day moving average of $23.96 and a 200 day moving average of $23.67. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.72 and a current ratio of 0.81.

Rentokil Initial Cuts Dividend

The company also recently declared 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 dividend yield of 240.0%. The ex-dividend date is Friday, August 15th. Rentokil Initial's dividend payout ratio is presently 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.