Rentokil Initial PLC $RTO Shares Bought by Elwood Capital Partners LP

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

Several other large investors also recently made changes to their positions in RTO. Gates Capital Management Inc. increased its position in shares of Rentokil Initial by 21.0% in the fourth quarter. Gates Capital Management Inc. now owns 6,258,013 shares of the company's stock worth $158,453,000 after acquiring an additional 1,084,845 shares in the last quarter. Snyder Capital Management L P acquired a new stake in shares of Rentokil Initial in the fourth quarter worth $24,297,000. Alberta Investment Management Corp grew its holdings in Rentokil Initial by 36.8% during the 1st quarter. Alberta Investment Management Corp now owns 1,794,900 shares of the company's stock valued at $41,103,000 after purchasing an additional 482,429 shares in the last quarter. Voss Capital LP grew its holdings in Rentokil Initial by 12.4% during the 1st quarter. Voss Capital LP now owns 3,471,946 shares of the company's stock valued at $79,508,000 after purchasing an additional 381,659 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Rentokil Initial by 94.8% during the 4th quarter. Northern Trust Corp now owns 462,657 shares of the company's stock valued at $11,714,000 after purchasing an additional 225,214 shares in the last quarter. Institutional investors and hedge funds own 9.91% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RTO. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Rentokil Initial in a report on Monday, July 21st. Sanford C. Bernstein lowered shares of Rentokil Initial from a "market perform" rating to an "underperform" rating in a report on Thursday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Rentokil Initial Trading Up 0.7%

NYSE RTO opened at $24.3430 on Friday. Rentokil Initial PLC has a 12 month low of $19.60 and a 12 month high of $34.07. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.81 and a quick ratio of 0.72. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 4.21 and a beta of 0.92. The company's fifty day moving average price is $24.00 and its two-hundred day moving average price is $23.65.

Rentokil Initial Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, August 15th will be given a $0.2738 dividend. The ex-dividend date is Friday, August 15th. This represents a yield of 240.0%. Rentokil Initial's dividend payout ratio (DPR) is currently 29.80%.

About Rentokil Initial

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.

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