QRG Capital Management Inc. Acquires New Stake in Rentokil Initial PLC $RTO

Key Points

• QRG Capital Management opened a new position in Rentokil Initial during the first quarter, buying 34,278 shares valued at about $1.08 million.
• Other institutional investors also adjusted their stakes, and institutional ownership now stands at 9.91% of the stock.
• Analyst sentiment is mixed but generally positive: Rentokil Initial has a Moderate Buy consensus rating with an average price target of $34.50, above its recent price of $30.11.

QRG Capital Management Inc. bought a new position in Rentokil Initial PLC (NYSE:RTO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 34,278 shares of the company's stock, valued at approximately $1,079,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RTO. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Rentokil Initial by 222.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,163 shares of the company's stock valued at $34,000 after purchasing an additional 802 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Rentokil Initial by 76.5% during the fourth quarter. GAMMA Investing LLC now owns 1,232 shares of the company's stock worth $36,000 after buying an additional 534 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Rentokil Initial during the fourth quarter worth about $39,000. IFP Advisors Inc grew its holdings in shares of Rentokil Initial by 53.8% during the third quarter. IFP Advisors Inc now owns 1,972 shares of the company's stock worth $50,000 after buying an additional 690 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Rentokil Initial by 296.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,954 shares of the company's stock valued at $58,000 after buying an additional 1,461 shares during the last quarter. 9.91% of the stock is owned by institutional investors and hedge funds.

Rentokil Initial Price Performance

NYSE:RTO opened at $30.11 on Thursday. Rentokil Initial PLC has a 1-year low of $22.72 and a 1-year high of $34.67. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.16 and a quick ratio of 1.07. The firm has a fifty day simple moving average of $30.73 and a 200 day simple moving average of $31.37.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RTO shares. The Goldman Sachs Group raised shares of Rentokil Initial from a "neutral" rating to a "buy" rating in a research note on Monday. Weiss Ratings restated a "hold (c)" rating on shares of Rentokil Initial in a report on Wednesday, June 24th. Zacks Research downgraded shares of Rentokil Initial from a "hold" rating to a "strong sell" rating in a research report on Monday, June 15th. UBS Group upgraded shares of Rentokil Initial from a "neutral" rating to a "buy" rating in a research note on Thursday, March 12th. Finally, Rothschild & Co Redburn raised shares of Rentokil Initial from a "sell" rating to a "neutral" rating in a research report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Rentokil Initial has a consensus rating of "Moderate Buy" and an average price target of $34.50.

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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