Rentokil Initial PLC $RTO Stock Holdings Cut by Iridian Asset Management LLC CT

Key Points

• Iridian Asset Management cut its Rentokil Initial stake by 50.1% in Q4, selling 308,212 shares and retaining 306,397 shares (~$9.03M), which leaves RTO as Iridian's 10th largest holding.
• Other institutions showed contrasting activity — notably Envestnet boosted its position by 105.8% to 1,553,740 shares (~$39.2M) — and overall institutional ownership stands at about 9.91%.
• Analyst opinion is mixed but the consensus is a "Moderate Buy" with an average price target of $34.50 after several recent upgrades and downgrades.

Iridian Asset Management LLC CT lowered its holdings in shares of Rentokil Initial PLC (NYSE:RTO - Free Report) by 50.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 306,397 shares of the company's stock after selling 308,212 shares during the quarter. Rentokil Initial makes up 3.3% of Iridian Asset Management LLC CT's holdings, making the stock its 10th largest position. Iridian Asset Management LLC CT owned about 0.06% of Rentokil Initial worth $9,026,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its position in Rentokil Initial by 105.8% during the third quarter. Envestnet Asset Management Inc. now owns 1,553,740 shares of the company's stock worth $39,232,000 after purchasing an additional 798,660 shares in the last quarter. Clark Estates Inc. NY purchased a new position in Rentokil Initial during the third quarter worth approximately $8,332,000. Liberty One Investment Management LLC purchased a new position in Rentokil Initial during the third quarter worth approximately $39,946,000. Nichols & Pratt Advisers LLP MA boosted its position in Rentokil Initial by 5.9% during the third quarter. Nichols & Pratt Advisers LLP MA now owns 871,415 shares of the company's stock worth $22,003,000 after purchasing an additional 48,184 shares in the last quarter. Finally, Advisor OS LLC purchased a new position in Rentokil Initial during the third quarter worth approximately $1,014,000. Hedge funds and other institutional investors own 9.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RTO. Zacks Research downgraded Rentokil Initial from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 4th. UBS Group upgraded Rentokil Initial from a "neutral" rating to a "buy" rating in a research report on Thursday, March 12th. Bank of America upgraded Rentokil Initial from a "neutral" rating to a "buy" rating and set a $34.00 target price on the stock in a research report on Thursday, December 18th. Deutsche Bank Aktiengesellschaft downgraded Rentokil Initial from a "buy" rating to a "hold" rating in a research report on Tuesday, February 24th. Finally, Wall Street Zen downgraded Rentokil Initial from a "buy" rating to a "hold" rating in a research report on Sunday, April 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $34.50.

Rentokil Initial Trading Down 0.0%

NYSE RTO opened at $33.59 on Monday. Rentokil Initial PLC has a 1-year low of $21.68 and a 1-year high of $34.09. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.07 and a current ratio of 1.16. The stock's 50 day simple moving average is $31.65 and its 200-day simple moving average is $29.66.

Rentokil Initial Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Tuesday, May 19th. Investors of record on Friday, April 10th will be given a dividend of $0.412 per share. The ex-dividend date is Friday, April 10th. This represents a yield of 245.0%.

Rentokil Initial Company 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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