Iridian Asset Management LLC CT Increases Holdings in Rentokil Initial PLC (NYSE:RTO)

Iridian Asset Management LLC CT grew its stake in Rentokil Initial PLC (NYSE:RTO - Free Report) by 13.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 828,361 shares of the company's stock after acquiring an additional 99,597 shares during the period. Rentokil Initial accounts for approximately 6.0% of Iridian Asset Management LLC CT's holdings, making the stock its 6th largest position. Iridian Asset Management LLC CT owned approximately 0.16% of Rentokil Initial worth $18,969,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RTO. Smartleaf Asset Management LLC lifted its stake in Rentokil Initial by 486.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,942 shares of the company's stock valued at $49,000 after purchasing an additional 1,611 shares during the last quarter. Wealthquest Corp acquired a new stake in Rentokil Initial in the 1st quarter valued at about $66,000. Russell Investments Group Ltd. lifted its stake in Rentokil Initial by 63.9% in the 4th quarter. Russell Investments Group Ltd. now owns 3,287 shares of the company's stock valued at $83,000 after purchasing an additional 1,281 shares during the last quarter. Versant Capital Management Inc acquired a new stake in Rentokil Initial in the 1st quarter valued at about $143,000. Finally, GAMMA Investing LLC lifted its stake in Rentokil Initial by 996.0% in the 1st quarter. GAMMA Investing LLC now owns 9,206 shares of the company's stock valued at $211,000 after purchasing an additional 8,366 shares during the last quarter. Institutional investors own 9.91% of the company's stock.

Rentokil Initial Price Performance

Shares of RTO stock traded down $0.41 during trading on Friday, hitting $22.97. The company had a trading volume of 471,444 shares, compared to its average volume of 794,068. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.72 and a current ratio of 0.81. The firm has a market capitalization of $11.60 billion, a P/E ratio of 15.21 and a beta of 0.94. The stock's 50-day moving average price is $23.65 and its 200 day moving average price is $23.70. Rentokil Initial PLC has a one year low of $19.60 and a one year high of $34.07.

Analyst Ratings Changes

Separately, Sanford C. Bernstein downgraded shares of Rentokil Initial from a "market perform" rating to an "underperform" rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Rentokil Initial presently has a consensus rating of "Moderate Buy".

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.