Nichols & Pratt Advisers LLP MA Acquires 125,697 Shares of Rentokil Initial PLC $RTO

Key Points

• Nichols & Pratt Advisers LLP MA increased its stake in Rentokil Initial by 14.4%, buying 125,697 shares to hold 997,112 shares (about 0.20% of the company), making it the firm's 20th largest position valued at $29.375 million per the latest 13F filing.
• Several other institutional investors also materially boosted RTO positions (including Liberty One, QVIDTVM, Bank of America, Optiver and Envestnet), and institutional ownership of the stock stands at approximately 9.91%.
• Analyst views are mixed but the consensus leans to a Moderate Buy with a $34.50 average price target; recent notable notes include Oppenheimer raising its target to $35/outperform and Zacks downgrading to strong sell.

Nichols & Pratt Advisers LLP MA grew its holdings in shares of Rentokil Initial PLC (NYSE:RTO - Free Report) by 14.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 997,112 shares of the company's stock after acquiring an additional 125,697 shares during the period. Rentokil Initial comprises approximately 1.8% of Nichols & Pratt Advisers LLP MA's holdings, making the stock its 20th largest position. Nichols & Pratt Advisers LLP MA owned about 0.20% of Rentokil Initial worth $29,375,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RTO. Liberty One Investment Management LLC bought a new stake in shares of Rentokil Initial during the 3rd quarter valued at $39,946,000. QVIDTVM Management LLC grew its position in shares of Rentokil Initial by 669.1% during the 3rd quarter. QVIDTVM Management LLC now owns 1,704,486 shares of the company's stock valued at $43,038,000 after acquiring an additional 1,482,865 shares during the period. Bank of America Corp DE grew its position in shares of Rentokil Initial by 143.5% during the 2nd quarter. Bank of America Corp DE now owns 1,821,709 shares of the company's stock valued at $43,721,000 after acquiring an additional 1,073,471 shares during the period. Optiver Holding B.V. grew its position in shares of Rentokil Initial by 121.1% during the 3rd quarter. Optiver Holding B.V. now owns 1,466,714 shares of the company's stock valued at $37,035,000 after acquiring an additional 803,280 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Rentokil Initial by 105.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,553,740 shares of the company's stock valued at $39,232,000 after acquiring an additional 798,660 shares during the period. Institutional investors own 9.91% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RTO. Oppenheimer boosted their price objective on shares of Rentokil Initial from $30.00 to $35.00 and gave the company an "outperform" rating in a research report on Tuesday, March 10th. Zacks Research downgraded shares of Rentokil Initial from a "hold" rating to a "strong sell" rating in a report on Wednesday, March 4th. Wall Street Zen downgraded shares of Rentokil Initial from a "buy" rating to a "hold" rating in a report on Sunday, April 5th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Rentokil Initial in a report on Thursday, January 22nd. Finally, Rothschild & Co Redburn raised shares of Rentokil Initial from a "sell" rating to a "neutral" rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Rentokil Initial has an average rating of "Moderate Buy" and a consensus price target of $34.50.

Rentokil Initial Trading Up 1.4%

Shares of Rentokil Initial stock opened at $34.07 on Friday. 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 of $32.05 and a 200 day moving average of $30.21. Rentokil Initial PLC has a fifty-two week low of $22.53 and a fifty-two week high of $34.67.

Rentokil Initial Announces Dividend

The company also recently announced a dividend, which will be paid on Tuesday, May 19th. Investors of record on Friday, April 10th will be issued a $0.412 dividend. The ex-dividend date of this dividend is Friday, April 10th. This represents a yield of 245.0%.

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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