Rentokil Initial PLC $RTO Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its Rentokil Initial stake by 60.7% in the first quarter, purchasing 2.51 million additional shares and bringing its holdings to 6.65 million shares, or 1.32% of the company.
• Rentokil Initial shares opened at $25.07, below their 50-day and 200-day moving averages, and have traded between $23.26 and $34.67 over the past year. Institutional investors and hedge funds own 9.91% of the stock.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and a $31.90 target price; the company also announced a dividend of $0.224 per share.

Bank of America Corp DE increased its position in Rentokil Initial PLC (NYSE:RTO - Free Report) by 60.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,650,998 shares of the company's stock after purchasing an additional 2,511,135 shares during the quarter. Bank of America Corp DE owned 1.32% of Rentokil Initial worth $209,373,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its position in Rentokil Initial by 222.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,163 shares of the company's stock valued at $34,000 after buying an additional 802 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Rentokil Initial during the fourth quarter valued at about $39,000. V Square Quantitative Management LLC increased its position in shares of Rentokil Initial by 84.5% during the first quarter. V Square Quantitative Management LLC now owns 1,395 shares of the company's stock worth $44,000 after acquiring an additional 639 shares during the last quarter. IFP Advisors Inc increased its position 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 acquiring an additional 690 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Rentokil Initial by 296.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,954 shares of the company's stock worth $58,000 after acquiring an additional 1,461 shares in the last quarter. 9.91% of the stock is owned by institutional investors and hedge funds.

Rentokil Initial Price Performance

Shares of Rentokil Initial stock opened at $25.07 on Wednesday. The business has a 50-day moving average price of $29.17 and a 200 day moving average price of $31.11. Rentokil Initial PLC has a fifty-two week low of $23.26 and a fifty-two week 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.

Rentokil Initial Cuts Dividend

The company also recently announced a dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Friday, August 14th will be given a $0.224 dividend. The ex-dividend date is Friday, August 14th. This represents a dividend yield of 192.0%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RTO. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Rentokil Initial in a report on Monday. Zacks Research downgraded Rentokil Initial from a "hold" rating to a "strong sell" rating in a report on Monday, June 15th. BNP Paribas Exane lowered Rentokil Initial from an "outperform" rating to a "neutral" rating and set a $26.70 target price on the stock. in a research report on Friday. Wall Street Zen cut Rentokil Initial from a "buy" rating to a "hold" rating in a research note on Monday, July 20th. Finally, The Goldman Sachs Group raised shares of Rentokil Initial from a "neutral" rating to a "buy" rating in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.90.

About Rentokil Initial

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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