Elwood Capital Partners LP Has $3.24 Million Stake in Rentokil Initial PLC $RTO

Key Points

• Elwood Capital Partners LP increased its holdings in Rentokil Initial PLC by 11.4% during the first quarter, now owning 141,324 shares worth approximately $3.2 million.
• Several large investors, including Gates Capital Management and Alberta Investment Management Corp, also raised their stakes in Rentokil Initial, contributing to a growing institutional ownership rating of 9.91%.
• Despite a recent dividend cut, the company's stock has a strong rating from analysts, with an average assessment of "Moderate Buy" and a price-to-earnings ratio of 16.12.

Elwood Capital Partners LP boosted its stake in Rentokil Initial PLC (NYSE:RTO - Free Report) by 11.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,324 shares of the company's stock after acquiring an additional 14,449 shares during the period. Rentokil Initial accounts for 2.8% of Elwood Capital Partners LP's portfolio, making the stock its 11th largest position. Elwood Capital Partners LP's holdings in Rentokil Initial were worth $3,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in RTO. Brooklyn Investment Group raised its holdings in Rentokil Initial by 668.3% in the first quarter. Brooklyn Investment Group now owns 1,598 shares of the company's stock valued at $37,000 after acquiring an additional 1,390 shares in the last quarter. Wealthquest Corp bought a new stake in Rentokil Initial during the first quarter valued at $66,000. Russell Investments Group Ltd. increased its stake 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 purchasing an additional 1,281 shares during the last quarter. Versant Capital Management Inc bought a new stake in Rentokil Initial during the first quarter valued at $143,000. Finally, GAMMA Investing LLC increased its stake 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 purchasing an additional 8,366 shares during the last quarter. 9.91% of the stock is owned by institutional investors and hedge funds.

Rentokil Initial Price Performance

RTO traded up $0.33 on Thursday, reaching $24.33. The company had a trading volume of 741,384 shares, compared to its average volume of 798,712. The company has a fifty day moving average of $24.03 and a 200-day moving average of $23.63. The company has a market capitalization of $12.29 billion, a P/E ratio of 16.11, a PEG ratio of 4.18 and a beta of 0.92. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 0.59. Rentokil Initial PLC has a one year low of $19.60 and a one year high of $32.41.

Rentokil Initial Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, August 15th will be issued a $0.2738 dividend. This represents a yield of 240.0%. The ex-dividend date of this dividend is Friday, August 15th. Rentokil Initial's dividend payout ratio is presently 29.80%.

Wall Street Analyst Weigh In

Several analysts have weighed in on RTO shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Rentokil Initial in a research note on Monday, July 21st. Sanford C. Bernstein lowered 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 Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rentokil Initial currently has a consensus rating of "Moderate Buy".

Rentokil Initial 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.